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LFG to deploy $1.5 billion to bolster UST peg and build BTC reserves -Breaking

May 9, 2022May 9, 2022 by Mike Robinson

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LFG to deploy $1.5 billion to bolster UST peg and build BTC reserves

LFG will deploy $1.5 Billion to bolster UST Peg and increase BTC Reserves

Despite the strong pullback (BTC) and the wider crypto market this week, the Luna Foundation Guard (LFG) is set to deploy $1.5 billion worth of capital to “help protect” USD’s (UST) peg to the United States dollar.

It Singapore-based nonprofit LFG is part of the Terra ecosystem and is tasked with collateralizing the network’s algorithmic stablecoin UST to keep its USD peg intact while also managing the network’s reserves.