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The claimed Bitcoin was intended to be held in trust by the Luna Foundation Guard, a non-profit charged with maintaining the ecosystem. Changpeng Zhao, the CEO of The crypto community has begun investigating the flow of the Luna Foundation Guard’s Bitcoin reserves during USTs depegging event; According to one analysis, 52k Bitcoin was sent to After the collapse of Terra’s once-stable coin terrausd (UST), a number of people wondered where the Luna Foundation Guard’s (LFG) bitcoin went, as the funds were supposed to be The nonprofit Luna Foundation Guard, who oversees and supports the TerraUSD stablecoin and its blockchain’s native coin Luna, said in a tweeted statement In response to the question, Luke Martin, a prominent member of the cryptocurrency community on Twitter, claimed that the Foundation moved the funds to two “JUST IN: $LUNA Foundation allegedly sent 80,394 Bitcoin ($2.5 billion) from its reserve to Gemini and Binance.” What Next? appeared first on Coinpedia - Fintech & Cryptocurreny News Media Luna Foundation Guard accumulated over $2 billion in bitcoin reserves and provided a loan of $750 million in bitcoin. The rest of the amount, over $1.2 billion in bitcoin

Luna Foundation Guard Bitcoin Reserves: Where Did the $2 Billion Go?

After the collapse of Terra’s once-stable coin terrausd (UST), a number of people wondered where the Luna Foundation Guard’s (LFG) bitcoin went, as the funds were supposed to be backing the stablecoin. Accusations and investigations have surged, focusing on the movement of LFG's substantial Bitcoin holdings during the tumultuous period.

JUST IN: $LUNA Foundation allegedly sent 80,394 Bitcoin ($2.5 billion) from its reserve to Gemini and Binance. What Next? appeared first on Coinpedia - Fintech & Cryptocurrency News Media.

The crypto community has begun investigating the flow of the Luna Foundation Guard’s Bitcoin reserves during UST's depegging event. Initial reports suggest significant transfers occurred as the stablecoin struggled to maintain its peg. According to one analysis, 52k Bitcoin was sent to exchanges.

The claimed Bitcoin was intended to be held in trust by the Luna Foundation Guard, a non-profit charged with maintaining the ecosystem. The nonprofit Luna Foundation Guard, who oversees and supports the TerraUSD stablecoin and its blockchain’s native coin Luna, said in a tweeted statement they would release details on fund allocation.

In response to the question of missing Bitcoin, Luke Martin, a prominent member of the cryptocurrency community on Twitter, claimed that the Foundation moved the funds to two major exchanges: Gemini and Binance. Changpeng Zhao, the CEO of Binance, has yet to publicly comment on receiving these funds specifically.

Luna Foundation Guard accumulated over $2 billion in bitcoin reserves and provided a loan of $750 million in bitcoin in an attempt to defend the UST peg. The rest of the amount, over $1.2 billion in bitcoin, remains a subject of intense scrutiny.

The whereabouts and ultimate disposition of these Bitcoin reserves are critical to understanding the events surrounding the UST collapse and the future of the Terra ecosystem. This is a developing story and we will continue to update this page as more information becomes available.

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