Bullish News for the Terra Luna ecosystem: The Luna Foundation Guard (LFG) has raised $1 billion through an over-the-counter sale of LUNA, the native token of the Terra blockchain.
The raise, one of the largest in the history of the crypto sector, was led by Jump Crypto and Three Arrows Capital, with Republic Capital, GSR, Tribe Capital, DeFiance Capital, and other unnamed investors participating.
TLDR: $1 billion has been raised for the Terra Luna Ecosystem. Why: The capital will be used to create a new reserve that can act as a “release valve” for UST redemptions during selloffs in crypto markets.
4 thoughts on “Terra Luna ecosystem: $1 billion to form bitcoin reserve for UST stablecoin”
I can see UST taking over USDT soon.
Damn, that’s bullish! How come no one is excited and talking about this ? 🤔
UST getting stronger and bigger
Was about time Terra Luna get’s a kick in the ass to get up again.