Luna Foundation Guard Acquires $1.5 Billion In BTC For UST Reserves

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As a part of its goal to accumulate $10 billion in Bitcoin to back algorithmic stablecoin U.S. Terra (UST), the Luna Foundation Guard (a non-profit managing the reserves for the UST stablecoin) disclosed yesterday that it has purchased 37,863 BTC worth nearly $1.5 billion.

LFG now holds roughly a total of $3.5 billion worth of BTC in its reserves, making it the 7th largest BTC holder. LFG acquired the BTC via over-the-counter swaps with Genesis Trading and Three Arrows Capital. Of the $1.5 billion, $1 billion was an OTC swap with Genesis while the other $500 million was acquired from Three Arrows Capital.

https://cointelegraph.com/news/luna-foundation-guard-purchases-additional-37-863-btc-as-part-of-reserve-strategy

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Haha... his protocol didn't last long....

• Luna foundation sold 80000 bitcoin amid "stablecoin" crash