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LFG adds $ 1.5 billion dollars in Bitcoin
Do Kwon wants the VAT reserves to achieve $ 10 billion in Bitcoin LFG with Genesis Trading and Three Arrows Capital in order to complete the purchase with the help of Genesis Trading and Three Arrows Capital, the Luna Foundation Guard (LFG) has its VAT Stable reserves by $ 1.5 billion in Bitcoin increased. LFG, the non-profit organization, which was founded to support Terra, announced on Thursday that it has completed an out-of-the-counter swap by VAT against Bitcoin worth $ 1 billion, which is conducted by the Digital Asset Prime Broker Genesis. The average price of the purchases was not announced. ...
LFG adds $ 1.5 billion dollars in Bitcoin
- Do Kwon will, dass die UST-Reserven 10 Milliarden Dollar in Bitcoin erreichen
- LFG hat sich mit Genesis Trading und Three Arrows Capital zusammengetan, um den Kauf abzuschließen
With the help of Genesis Trading and Three Arrows Capital, the Luna Foundation Guard (LFG) increased its VAT stable reserves by $ 1.5 billion in Bitcoin.
LFG, the non-profit organization, which was founded to support Terra, announced on Thursday that it has completed an out-of-the-counter swap by VAT against Bitcoin worth $ 1 billion, which is conducted by the Digital Asset Prime Broker Genesis. The average price of the purchases was not announced.
LFG bought Bitcoin worth $ 500 million over the crypto hedge fund Three Arrows Capital, which means that the total purchases of the LFG were $ 1.5 billion in Bitcoin.
"The Mission of the LFG to support the stability and introduction of the VAT stable is continued with the recent deal of the acquisition of BTC from Genesis for the VAT-FOREX reserve," said Do Kwon, board member of the LFG and co-founder and CEO of Terraform Labs, in A Explanation. "As a leading broker for digital currencies, the participation of Genesis shows the growing demand for decentralized stable coins on the broader cryptom market and helps to build bridges between crypto facilities that are connected by a jointly decentralized money."
The purchase increases the Bitcoin stock from LFG to around $ 3 billion. Kwon said that he hopes to acquire Bitcoin reserves worth $ 10 billion.
"LFG has announced that they continue to acquire BTC as a preferred long -term stabilizing asset for VAT," said Jordi Alexander, Chief Investment Officer at Selini Capital, and an acquaintance Terra skeptic called.
"While your purchases may now be temporarily interrupted, it would not be surprising if the VAT emission would continue to rise in the future if you started buying again to approach your intermediate target of $ 10 billion in Bitcoin."
The announcement is made less than a month after LFG has acquired $ 100 million of the native token Avax of the Avalanch Foundation to set up VAT reserves. Industry representatives were not surprised by the election, since a $ 100 million swap is almost 0.5 % of AVAX's market capitalization, which makes it a good opportunity to bring new fans and users to VAT.
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The contribution LFG adds ostaria-reserves $ 1.5 billion in Bitcoin is not a financial advice.