Luna Foundation Guard 80,000 Bitcoin Lighter After Failing to Defend UST Peg | CoinMarketCap

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Out of over 80,000 Bitcoin previously in LFG's holding, 313 $BTC remains LFG also sold $50 million in $USDT and $USDC to defend the $UST peg. Besides $BTC, the reserves still hold 40K $BNB and 1.97M $AVAX 👇

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The Luna Foundation Guard now disclosed the state of its reserves in a tweet thread. The situation is dire to say the least.

However, LUNA holders will find little comfort in this. Larry Cermak, head of research at The Block, correctly pointed out that LFG burned through almost $3 billion in its attempt to defend its stablecoin's peg:

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Will all this happening, do you still have hope that Luna can recover at least half of what was lost?

LFG 😙 LUNA go to moon UST will get 1 Dollar

I'm confuse, can't we see where did all the btc went to?

Mishandling from the first time. still use ust to back up luna

Pgirl is among the trending projects on cmc today,this shows the strength of the community,won't u want to be on the winning team?..buy pgirl today and moon,buyback and burn ongoing now. pandagirltoken $PGIRL pandagirl nft nftart giveaway BTC ADA ETH SHIB babydoge

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