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Luna Foundation Sold 80,000 Bitcoin Amid UST Crash

Luna Foundation Guard (LFG), the non-profit group holding Terra’s bitcoin reserves, confirmed on Monday morning that it had bought over 80,000 BTC over the previous week to purchase TerraUSD (UST) in an try to defend its crumbling U.S. greenback peg.

“Consistent with its non-profit mission & focus on the health of the Terra ecosystem, beginning on May 8, when the price of $UST began to drop substantially below one dollar, the Foundation began converting this reserve to $UST,” LFG mentioned in a Twitter thread.


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