The Terra (LUNA) project and the Luna Foundation Gaurd (LFG) purchased 4,130 bitcoin valued at $176.1 million at the time of settlement on Sunday, April 10, 2022. LFG now holds 39,897.98 bitcoin worth $1.7 billion based on today’s bitcoin exchange rates.
The Luna Foundation Gaurd secures $176 million in Bitcoin for the UST Decentralized Forex Reserve.
Bitcoin transfers on a regular basis
The Luna Foundation Gaurd (LFG) announced a cooperation with the Avalanche Foundation two days ago, revealing that it would purchase $100 million worth of avalanche (AVAX) in an over-the-counter (OTC) exchange.
The $100 million in AVAX is intended to diversify the project’s UST Decentralized Forex Reserve reserves. Terrausd, often known as UST, is Terra’s (LUNA) algorithmic stablecoin, and LFG has been backing the forex reserve with bitcoin.
LFG bought 5,040 bitcoin (BTC) four days earlier, on April 6, bringing the total hoard to 35,767.98 bitcoin. LFG got another significant sum of BTC today, April 10, when it deposited 4,130 bitcoin worth $176.1 million into LFG’s bitcoin wallet.
The first transaction was for 1,482 BTC, the second was for 492 BTC, the third transfer was for 1,174.99 BTC, and the fourth transaction was for 981 BTC paid to the LFG wallet. Aside from the significant bitcoin deposits from Terra’s purchases, the address receives a variety of BTC dust transfers on a regular basis.
Know how much LFG bitcoin wallet holds
The Singapore non-profits Gnosis safe address withdrew 183,515,000 tether (USDT) from the address before the LFG bitcoin wallet noticed those deposits. The LFG Ethereum address has only 164.17 million tethers left, according to onchain measurements.
The address does, however, retain a substantial amount of USD currency (USDC), as it now has 398.95 million USDC on April 10. This means that the Terra (LUNA) project currently holds 563.12 million stablecoins.
After depositing 4,130 bitcoins at today’s BTC exchange rates, the LFG bitcoin wallet now holds 39,897.98 bitcoin worth $1.7 billion. The wallet has seen a total of 66 transactions or deposits, and it has not sent any bitcoin since its creation.
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Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2022/04/12/terras-luna-foundation-bought-4130-bitcoin-valued-at-176-million/