Big Money Moves in the Stablecoin World
The nonprofit organization known as the Luna Foundation Guard (LFG) has made a significant splash by raising $1 billion through the sale of LUNA tokens. This leap was spearheaded by notable investors including Jump Crypto and Three Arrows Capital, among others. The funds are set to be directed toward developing a Bitcoin-denominated Forex Reserve specifically for $UST, the stablecoin circulating within the Terra ecosystem.
The Impressive Line-up of Investors
On a sunny Tuesday, Terra tweeted about the milestone, proving that when it rains, it pours—especially when it’s raining Bitcoin! In this round, heavy hitters like DeFiance Capital, Republic Capital, GSR, and Tribe Capital joined the token sale party. Truly, a gathering of the coolest kids in the crypto playground.
Stablecoins and Their Critics
Algorithmic stablecoins like UST have often been criticized for their inherent
+ There are no comments
Add yours