avatar

LFG Will Loan $750M $BTC to OTC Trading Firms to Protect the $UST Peg

Terra ecosystem nonprofit Luna Foundation Guard (LFG) tweeted that due to recent market volatility and to protect the stability of Terra's economic system, LFG plans to loan $750 million worth of $BTC to OTC trading firms to help protect the $UST peg. As the market returns to normalization, LFG will then loan $750 million $UST to accumulate $BTC. Eventually maintaining parity of the LFG Reserve pool (denominated in $BTC) as market conditions progressively stabilize.
Source

Terra

Bitcoin

In This Article

Related News
Riot Platforms sells mined bitcoin for first time since January 2024, nets $38.8 million Riot Platforms sells mined bitcoin for first time since January 2024, nets $38.8 million
Ark Invest raises 2030 bull-case bitcoin price projection to $2.4 million on 'aggressive' modeling Ark Invest raises 2030 bull-case bitcoin price projection to $2.4 million on 'aggressive' modeling
pot bitcoin ETFs see $936 million inflows as 'safe haven' narrative strengthens pot bitcoin ETFs see $936 million inflows as 'safe haven' narrative strengthens
BlackRock launches bitcoin ETP in Europe following US success BlackRock launches bitcoin ETP in Europe following US success
Bitfarms completes Stronghold Digital acquisition, sells Paraguay facility to HIVE in US push Bitfarms completes Stronghold Digital acquisition, sells Paraguay facility to HIVE in US push
Latest News More More
15 Hours Ago Sei community weighs proposal to deprecate native Cosmos accounts, move to EVM-only model
1 Day Ago Ethereum developers activate Pectra upgrade with 11 changes to improve UX, validator ops and Layer 2 scaling
2 Days Ago Solana validators patch zero-day bug that could have led to unlimited minting of certain tokens
April 29 Circle secures in-principle approval to operate as money services provider in Abu Dhabi
April 29 Mastercard moves to integrate stablecoins into global payments network

About TokenInsight

Services

Products

Support

Google Play
Google Play
Google Play
2018 – 2023 © TokenInsight Ltd. All rights reserved
Disclaimer Terms of Service Privacy Policy
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open