Terra’s LFG to lend OTC traders $1.5B in BTC, UST to support stablecoin peg
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Luna Foundation Guard (LFG) said on May 9 that it will lend out $1.5 billion worth of Bitcoin (BTC) and UST to defend the algorithmic stablecoin’s peg to the U.S. dollar. Terra’s UST suffered a…
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The Luna Foundation Guard (LFG) has raised $1 billion in a private token sale to allow the group to safeguard the peg of UST, Terra’s flagship stablecoin, against market instabilities. While the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]…
The newest transfer by the cryptocurrency alternate comes after LFG determined to lend $1.5 billion in BTC and UST to defend the latter’s peg. Binance has announced briefly suspending LUNA and UST... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]…
High-volumes sales of UST have pushed the stablecoin below peg for several hours The LFG will loan $750 million from its BTC reserves to market makers for stability operations Stablecoins pegged to... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]…