{"id":444352,"date":"2022-05-09T23:46:32","date_gmt":"2022-05-09T20:46:32","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/42-5k-btc-reportedly-moved-from-luna-foundation-guard-wallet-as-ust-peg-crumbles\/"},"modified":"2022-05-09T23:46:32","modified_gmt":"2022-05-09T20:46:32","slug":"42-5k-btc-reportedly-moved-from-luna-foundation-guard-wallet-as-ust-peg-crumbles","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/42-5k-btc-reportedly-moved-from-luna-foundation-guard-wallet-as-ust-peg-crumbles\/","title":{"rendered":"# 42.5K BTC reportedly moved from Luna Foundation Guard wallet as UST peg crumbles"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3ccb4ee876b\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3ccb4ee876b\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/42-5k-btc-reportedly-moved-from-luna-foundation-guard-wallet-as-ust-peg-crumbles\/#%E2%80%9D_425K_BTC_reportedly_moved_from_Luna_Foundation_Guard_wallet_as_UST_peg_crumbles_%E2%80%9C\" >&#8221; 42.5K BTC reportedly moved from Luna Foundation Guard wallet as UST peg crumbles &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_425K_BTC_reportedly_moved_from_Luna_Foundation_Guard_wallet_as_UST_peg_crumbles_%E2%80%9C\"><\/span>&#8221; 42.5K BTC reportedly moved from Luna Foundation Guard wallet as UST peg crumbles &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Roughly $1.4 billion worth of Bitcoin (BTC) was reportedly moved from a wallet tied to Luna Foundation Guard (LFG) on Monday, raising questions about its ultimate destination on a day that has seen Bitcoin\u2019s price tumble more than 11%.\u00a0<\/p>\n<p>Data from blockchain explorer Blockchair <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/blockchair.com\/bitcoin\/address\/bc1q9d4ywgfnd8h43da5tpcxcn6ajv590cg6d3tg6axemvljvt2k76zs50tv4q?fbclid=IwAR0TjUbxxf35HcKtzbEG6w0F-GVIEM7Dud4WATp6B4yyec6y2dL6N6pgOmk\">revealed<\/a> Monday that 42,530.82827771 BTC was spent from the LFG wallet, though its destination was unknown. It has been speculated that the funds were split into two batches \u2014 roughly 12,500 BTC and 30,000 BTC, respectively \u2014 with a portion reportedly sent to cryptocurrency exchange OKEX. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">looks like they have split it up the funds 12.5k and 30k BTC going separate ways. <\/p>\n<p>Supposedly a chunk has been sent to OKEX as well <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/hlZtmMDcT5\">pic.twitter.com\/hlZtmMDcT5<\/a><\/p>\n<p>\u2014 Daxx (@DaxxTrader) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DaxxTrader\/status\/1523741774048415744?ref_src=twsrc%5Etfw\">May 9, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nAround the same time, <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> account Whale Alert revealed that 12,531 BTC had been transferred from an unknown wallet to another unknown wallet. Whale Alert provides tracker and analytics reporting on large Bitcoin transactions. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">           12,531 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> (384,431,740 USD) transferred from unknown wallet to unknown wallet<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/4ZuCN34Fnr\">https:\/\/t.co\/4ZuCN34Fnr<\/a><\/p>\n<p>\u2014 Whale Alert (@whale_alert) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/whale_alert\/status\/1523735559193210882?ref_src=twsrc%5Etfw\">May 9, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The move came less than a day after LFG announced that it was taking decisive steps to \u201cproactively defend the stability of the UST peg [and] broader Terra economy,\u201d referring to its popular algorithmic stablecoin TerraUSD, which fell below its United States dollar peg. Measures included loaning $750 million worth of BTC to over-the-counter trading firms to help protect the peg of UST and to loan $750 million worth of UST to accumulate more Bitcoin as market conditions begin to stabilize. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">1\/ Over the past several days, market volatility across crypto assets has been significant. <\/p>\n<p>The market turmoil is also reflected by the past week&#8217;s uncertain macro conditions across legacy asset classes.<\/p>\n<p>\u2014 LFG | Luna Foundation Guard (@LFG_org) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/LFG_org\/status\/1523512196965167104?ref_src=twsrc%5Etfw\">May 9, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>UST reached a low of $0.9428 on Monday, according to CoinMarketCap. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/45180508-b594-4195-adbd-e3613047510e.jpg\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>UST has lost its peg on two occasions in the past, including the March 2020 Covid-19 liquidity event. Source: CoinMarketCap.<\/em><\/figcaption><\/figure>\n<p><strong><em>Related: <\/em><\/strong><strong><em>LUNA drops 20% in a day as whale dumps Terra\u2019s UST stablecoin \u2014 selloff risks ahead?<\/em><\/strong><\/p>\n<p>The value of Terra (LUNA) also declined significantly over the weekend, though project co-founder Do Kwon warned that the selloff was a result of a coordinated attack against the protocol. He also clarified on Sunday that LFG is \u201cnot trying to exit its bitcoin position,\u201d but that it was putting capital in the hands of a professional market maker to buy UST if the price falls below the peg and buy BTC if the price was greater to or equal to the peg.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">2\/ First, *LFG is not trying to exit its bitcoin position*. <\/p>\n<p>The goal is to have this capital in the hands of a professional market maker such that: <\/p>\n<p>1) Buy UST if price &lt; peg<br \/>2) Buy BTC if price &gt;= peg<\/p>\n<p>thus significantly strengthening the liquidity around UST peg<\/p>\n<p>\u2014 Do Kwon  (@stablekwon) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/stablekwon\/status\/1523532476898897920?ref_src=twsrc%5Etfw\">May 9, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On Monday, Kwon also tweeted that he would be \u201cDeploying more capital,\u201d though didn\u2019t specify to what extent. <\/p>\n<p>Extreme market volatility follows LFG\u2019s acquisition of $1.5 billion in Bitcoin completed last week via over-the-counter swaps with Genesis Trading and direct purchases from crypto venture fund Three Arrows Capital. At the time, the nonprofit organization was said to hold roughly $3.5 billion worth of BTC at an average price of around $37,100 per coin. BTC price reached a low of around $30,300 on Monday, according to data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a>. <\/p>\n<p><em>This story is being updated.\u00a0<\/em><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/42-5k-btc-reportedly-moved-from-luna-foundation-guard-wallet-as-ust-peg-crumbles\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; 42.5K BTC reportedly moved from Luna Foundation Guard wallet as UST peg crumbles &#8220; Roughly $1.4 billion worth of Bitcoin (BTC) was reportedly moved from a wallet tied to Luna Foundation Guard (LFG) on Monday, raising questions about its ultimate destination on a day that has seen Bitcoin\u2019s price tumble more than 11%.\u00a0 Data&#8230;<\/p>\n","protected":false},"author":1,"featured_media":444353,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvNDFhYTA3ZTgtNzQwMi00NGExLTg5OWQtYjNkZjg0MWYwODJiLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,75493,122378],"class_list":["post-444352","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-stablecoin","tag-terra"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/444352","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=444352"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/444352\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/444353"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=444352"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=444352"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=444352"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}