UST Depegging Catches the attention of US Treasury Secretary Yellen, Who Calls for Stablecoin Regulation by EOY

The Luna Foundation Guard at One Point, Drained its Entire Bitcoin Reserves

Yesterday’s depegging of UST was so severe that the Luna Foundation Guard transferred its entire 42,530 Bitcoin reserve holdings into Binance. The move was meant to task market makers with maintaining the peg of UST. The team at the Luna Foundation Guard explained the sequence of events through the following statement.

Last clip withdrawn by the LFG was ~37K BTC. 

Similar to the last deployment, it has been loaned to MMs.

Very little of the recent clip has been spent but is currently being used to buy $UST.

Updates coming.

[Feature image courtesy of @USTreasury on Twitter]

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