avatar

Luna Foundation Guard Closed $1 Billion Funding Round Led by Jump Crypto and Three Arrows Capital

TokenInsight news, Singapore-based nonprofit Luna Foundation Guard (LFG) closed a $1 billion round of funding through an OTC sale of $LUNA, led by Jump Crypto and Three Arrows Capital, with participation from Republic Capital, GSR, Tribe Capital, DeFiance Capital and others. The funds raised will reportedly be used to establish a bitcoin-denominated forex reserve for Terra Stablecoin ($UST). LFG said that the reserve created through the $1 billion capital injection will effectively act as a “release valve” for $UST redemptions; it is designed to ensure that the price of the stablecoin remains pegged to that of the dollar during sharp selloffs in crypto markets.
Source

Fund Raising

In This Article

Related News
Solana-based memecoin generator Pump.fun raising $1 billion via token sale: report Solana-based memecoin generator Pump.fun raising $1 billion via token sale: report
Cobie's ICO platform Sonar goes live with Plasma seeking $50 million at $500 million token valuation Cobie's ICO platform Sonar goes live with Plasma seeking $50 million at $500 million token valuation
Ethereum security platform Drosera raises $3.25 million in funding, brings total funding to $4.75 million Ethereum security platform Drosera raises $3.25 million in funding, brings total funding to $4.75 million
ZK-powered onchain credit analytics startup Accountable raises $2.3 million seed round ZK-powered onchain credit analytics startup Accountable raises $2.3 million seed round
Crypto-AI startup Fraction AI raises $6 million in pre-seed funding Crypto-AI startup Fraction AI raises $6 million in pre-seed funding
Latest News More More
2 Days Ago Chinese creditors push back against FTX's motion to forfeit payouts in restricted jurisdictions
5 Days Ago TON Foundation offers path to 10-year UAE 'Golden Visa' for $100k in staked TON, $35k fee; UAE denies eligibility
July 4 Tether plans further Bitcoin mining expansion in South America with Adecoagro tie up
July 3 North Korean hackers use fake Zoom updates to deliver ‘NimDoor’ macOS malware targeting crypto firms
July 3 JPMorgan's blockchain unit tests new carbon credit tokenization application with S&P Global

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