Luna Foundation Purchases Another $5 Million in Bitcoin – On Friday, the Luna Foundation Guard (LFG) acquired an extra 123.89 bitcoin worth over $5 million when it was settled. Terra’s LFG has been buying bitcoin on a regular basis since mid-March, and the non-profit organization now holds about 42,530.827 bitcoin after the purchase on Friday morning.
LFG has been acquiring a lot of bitcoin since Terraform Labs CEO Do Kwon said that the Terra project would buy $3 billion worth of bitcoin for Terra’s decentralized UST FX reserves. LFG’s most recent purchase was 2,508 BTC a few days ago, and the wallet held around 42,406.92 BTC after the purchase.
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LFG, a non-profit company, bought a substantially lesser amount of bitcoin on Friday, depositing 123.89917 BTC worth over $5 million at 1:55 a.m. (UTC). Apart from random dust transactions sent off to the wallet on a regular basis, all of the cash deposited into the LFG address came from a Binance hot wallet.
At the time of writing, LFG’s bitcoin wallet held 42,530.827 bitcoin worth $1.71 billion. After 69 transactions since January 21, 2022, it is now the 18th largest bitcoin wallet.
Following the formation of the Terraform Labs Global Founder Fellowship, the purchase of 123.89 BTC was made. “The Terra Global Founder Fellowship’s goal is to collaborate alongside top tier early-stage VC firms, accelerator programs, and tech unicorn companies,” Terraform Labs said in a statement on Wednesday.
Delphi Digital, Jump Crypto, Long Hash Ventures, Outlier Ventures, SCB10X, Ship Capital, Alpha Finance Lab, Basis Set Ventures, and Insignia Ventures are among the Terra Global Founder Fellowship partners.
Terra’s stablecoin UST was also launched on Binance US on April 13, and as of April 15, UST’s market value is only $200 million away from surpassing the market capitalization of the stablecoin BUSD. The market valuation of Terra’s UST has increased by 15.5 percent in the last 30 days.
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LFG’s Gnosis safe address has also experienced a lot of activity recently. Three days ago, the address received a deposit of 86,923,440 tether (USDT). The day before, the non-profit had withdrawn roughly 100,000,000 USDT.
According to statistics, the LFG Gnosis safe address owns $549.6 million in stablecoins, with the US dollar coin being the most prevalent. The address now has $398.16 million in USDC, $151.4 million in USDT, plus a minuscule percentage of ethereum worth $168.56 (0.056 ETH).