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
Mt. Gox moves over $1 billion worth of bitcoin to unmarked address: Arkham Mt. Gox moves over $1 billion worth of bitcoin to unmarked address: Arkham
Metaplanet purchases $13.4 million worth of bitcoin, boosts holdings to 2,391 BTC Metaplanet purchases $13.4 million worth of bitcoin, boosts holdings to 2,391 BTC
Metaplanet buys additional $12.9 million worth of bitcoin, now holds 2,235 BTC in total Metaplanet buys additional $12.9 million worth of bitcoin, now holds 2,235 BTC in total
Strategy announces $2 billion convertible note offering to fuel future bitcoin purchases Strategy announces $2 billion convertible note offering to fuel future bitcoin purchases
MicroStrategy rebrands as 'Strategy' in move to emphasize its bitcoin position MicroStrategy rebrands as 'Strategy' in move to emphasize its bitcoin position
Latest News More More
7 Hours Ago Argentine prosecutor seeks to freeze $110 million in proceeds tied to Libra memecoin scandal: report
1 Day Ago Ethereum devs activate Pectra upgrade on Sepolia testnet in last phase before mainnet rollout
1 Day Ago Binance Records $3.97B Weekly Inflows
1 Day Ago MEXC Partners With Hacken to Increase Security Standards
3 Days Ago Crypto.com’s Cronos blockchain considers proposal to reissue 70 billion previously burned tokens

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