Luna Foundation Sold 80,000 Bitcoin Amid UST Crash Today

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Luna Foundation Guard (LFG), the non-profit organization holding Terra’s bitcoin reserves, confirmed on Monday morning that it had sold over 80,000 BTC over the past week to acquire TerraUSD (UST) in an attempt to defend its crumbling U.S. dollar peg.

“Consistent with its non-profit mission & focus on the health of the Terra ecosystem, beginning on May 8, when the price of $UST began to drop substantially below one dollar, the Foundation began converting this reserve to $UST,” LFG said in a Twitter thread.


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