🔥 TERRA (LUNA) WHERE DID $2.0B IN BITCOIN GO? | RIPPLE (XRP) THE ONLY REGULATED CRYPTOCURRENCY? 🔥

🔥 TERRA (LUNA) WHERE DID $2.0B IN BITCOIN GO? | RIPPLE (XRP) THE ONLY REGULATED CRYPTOCURRENCY? 🔥 🔥 - In this video, we discuss XRP News today, crypto news today, and more. - In this video, we discuss XRP News today, crypto news today, and more.
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Terra’s $2 billion Bitcoin reserves: Where did it all go?

Right before the UST’s fiasco, the Luna Foundation Guard—the non-profit in charge of catering to the health of Terra’s ecosystem—kept buying Bitcoin to replenishing its reserves. At a point, it possessed over 70,736 BTC (worth over $2 billion).

Now that people from the space have accepted the fate of LUNA-UST, the eyes remain fixated towards the organization’s unaccounted Bitcoin reserve.

Over the weekend, Terra founder Do Kwon took Twitter to share that that the team was working on documenting the use Luna Foundation Guard’s reserves during the de-pegging event. He had simultaneously requested the community to remain patient.

Nonetheless, people have already lost their cool and have started asserting things like, “the lack of statement is the statement.”

Well, the ultimate aim of LFG’s BTC purchase was to bolster UST’s reserves and aid it retain its $1 valuation. The purchases, however, proved to be futile as Terra’s stablecoin lost its stability. At press time UST was trading substantially below its $1 peg, at $0.1520.

Out of the total its reserves, LFG provided a “loan” of $750 million in Bitcoin to over-the-counter trading firms and market makers last week “to help protect the UST peg.”

Per basic Math, post providing the loan, the foundation should have been possessing Bitcoin worth at least $1.2 billion in its reserves. Per data, nonetheless, the balance was down to 0 last week itself.

Enjoy the video! Stay safe everyone. LET'S GO!!!!!
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