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Terra Spends BTC in Panic, Still Fails to Normalize System -Breaking

by Mike Robinson

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© Reuters. Terra spends BTC on Panic but fails to normalize system
  • Luna Foundation Guard provides details on its crypto reserves.
  • To restore UST, the government spent a large amount of BTC.
  • There was still 313 BTC left in the crypto reserve.

Luna Foundation Guard (LFG), revealed Monday that it had used a significant portion of its 80.394 reserves. LFG tweeted about (LUNA and the UST price fall in a storm. In detail, the foundation spent most of its BTC reserves in an attempt to restore UST’s peg, leaving behind only 313 BTC.

LFG held crypto reserves of BTC, BNB and USDT as of May 7. At that point, it had 80 394 BTCs with a value of nearly $3B.

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