X

Robert from Houston

Signed up at Bitstarz Casino 42 minutes ago.

» Try Bitstarz Casino too
Do not show again

Tesla, the 2nd largest corporate holder of Bitcoin has just been surpassed.

Tesla holds 43,200 BTC, currently valued at close to $1.7 billion. The recent transaction by Luna Foundation Guard (LFG) adds another 37,863 BTC valued at around $1.5 billion ensuring them a higher position over Tesla with the bitcoin reserves of LFG now totaling 80,394 BTC valued at over $3.1 billion, CNBC reveals. Do Kwon, the founder of LUNA, is counting on the oldest cryptocurrency as a safe heaven for his stablecoin UST.

What is the Luna Foundation Guard? (LFG)

The foundation is a non-profit organization that was created in 2017 to protect the blockchain and digital currency industry via their the Terra ecosystem which represents a large, global security market and employs the best-of-class blockchain technologies from around the world to provide enhanced protection for cryptocurrencies. The foundation’s goal is to help ICOs become more mainstream, as well as to protect investors against fraud and theft.

Terraform Labs (TFL)

The Co-Founder and CEO of Terraform Labs, Do Kwon is determined to reach the $10 Billion goal he set out. With the recent successful deals accomplished, Do Kwon is hoping to attain his goal by the end of Q3.

In addition to the latest deal, Terra bought 2500 bitcoin in mid April which is roughly valued at $1 million as well gifted the Luna Foundation Guard $1.1 Billion LUNA to burn and mint more Terra USD. This is besides the $200 million Terra and LFG invested in AVAX tokens. TFL was able to swap its LUNA and LFG did an over-the-counter buy with its Stablecoin, solidifying their partnership with the Avalanche Foundation as its 2nd Layer-1 token.

This week Luna Foundation was able to do a $1 Billion OTC purchase facilitated via Genesis, a prime broker. The never done before OTC deal involved swapping UST Stablecoin to the value of $1billion for $1 Billion worth of Bitcoin ( BTC). They then bought $500 million worth of BTC from Three Arrows Capital, a well known cryptocurrency hedge fund.

“For the first time, you’re starting to see a pegged currency that is attempting to observe the bitcoin standard, it’s making a strong directional bet that keeping a lot of those foreign reserves in the form of a digital native currency is going to be a winning recipe.” said Do Kwon, who is quite optimistic for the future of cryptocurrency. Should we view his recent purchase as a sign that Bitcoin is at rather low levels now, and that it could be an investment opportunity? Bloomberg claims that Do Kwon is the most watch crypto whale at the moment, after buying BTC for $1.5M and planning to keep adding to the stack.

Terra’s strategic bitcoin acquisition goals have significantly aided to grow its UST reserves which now stands at approximately $3.5 Billion, securing its place as one of the top 10 BTC holders. Moving forward, Luna Foundation Guard will provide the capital needed to purchase an additional $1.4 Billion worth of BTC and the Terra protocol will assist in obtaining the remaining $7 billion bitcoin through its users. This strengthens UST as users would need to add bitcoin to the reserve and mint UST thus making Stablecoin more prominent in the Cryptocurrency ecosystem.

Genesis Trading

The first ever Block of bitcoin ever mined was back in 2009 by Satoshi Nakamura himself. The Genesis Block is basically the foundation of the Bitcoin trading system we’ve come to know today. It’s also a fitting name for the well known trading company partnering with the Luna Foundation Guard.

By participating and facilitating in this transaction with the Luna Foundation Guard, the company is building its reserves in Luna and UST and using them to interact with their borrowing counterparties, who may be looking to get access to the crypto ecosystem in a risk-neutral way.

It also enables Genesis to distribute some of the Terra assets to counterparties that may have difficulty accepting those assets on an exchange. “Terra’s remarkable growth has continuously reshaped crypto markets over the last two years, Genesis is excited to be a liquidity partner to the Terra ecosystem, connecting it to a broader audience of institutional market participants.” said Joshua Lim, head of derivatives at Genesis.

Rating: 9.5/10
Supply: 18,925,000 / 21,000,000
Release date: January 3, 2009

Description: What do you know about Bitcoin? Read the latest news from Crypto Lists Ltd today!

Risk warning: Trading, buying or selling crypto currencies is extremely risky and not for everyone. Do not risk money that you could not afford to loose.


by Our Certified Author
Bitcoin Newsflash
    Transfer BTC faster than ever on Bet Panda casinoTransfer BTC faster than ever on Bet Panda casino
    Tuesday, 27 Aug 2024 6:20 am
    If you have a really cool casino in mind that features a slick and suave panda then we know which one you're thinking about: the one and only Bet Panda IO (review). Right? Thought so. It's got a 1 BTC bonus sitting there just waiting for you and what's more, you can transfer you bitcoin even faster than you ever imagined. Why? The Lightning Network of course. It's built on top of the standard bitcoin blockchain and speeds it up to something comparable to ultra-modern layer 2 blockchains. Superb stuff. Sign up to Bet Panda and experience it...
    Read the full newsflash


    Start off your Monday with a 1 BTC bonus at CryptorinoStart off your Monday with a 1 BTC bonus at Cryptorino
    Monday, 5 Aug 2024 6:27 am
    Fancy trying your luck at an exciting crypto casino (see toplist) this morning? Get ready for some thrilling action and potential wins! Enjoy complete anonymity, with no KYC required for deposits, withdrawals, or even signing up. At Cryptorino (review), you'll find thousands of games and generous bonuses, including a welcome bonus of up to 100% on your first deposit, up to 1 BTC. Don't miss out, sign up at Cryptorino this Monday and dive...
    Read the full newsflash


    Two no-KYC casinos with bountiful BTC bonuses!Two no-KYC casinos with bountiful BTC bonuses!
    Thursday, 18 Jul 2024 6:53 am
    Say hello to two awesome no-KYC casinos (see toplist) that don't just come to the table without needing personal info or scans of documentation. In fact, they come to the table with some big welcome bonuses to help get you started in the best way possible. First up is the legendary (in such a short time) Bet Panda IO (see full review) with it's zero KYC on sign up, zero KYC on withdrawl, zero KYC all of the time. And, on top of that a 1 BTC welcome bonus alongside a 6-tier VIP program branded The Path of The Panda. Sign up to Bet Panda! Second up but by no means in second place is GOAT Casino (review) with it's mascot in a yellow lambo that brings all the girls (weird kinda bloke to be into, but whatever) to the yard. Not only is it also no KYC, but there's also a 1 Bitcoin bonus too. So similar, so how do you choose between signing up to the perfect panda or trying the Goat? Simple - simply give both a whirl and see which you like the look, feel, and library of. Simples!...
    Read the full newsflash


    Four stage 100 mBTC bonus on Power Up casinoFour stage 100 mBTC bonus on Power Up casino
    Wednesday, 17 Jul 2024 10:50 am
    Wednesdays mean another casino for you to sink your teeth into. Today's turn is Power Up (review), a really cool hybrid site that's got a big mBTC bonus waiting for you over 4 deposits. 100 mBTC to be exact! And it's also got over 100 developers to populate the site with amazing games (including a dedicated section for instant win ones - our favorite alongside crash titles). Like what you hear? Visit the site and check out the super-cool futuristic arcade look and feel of it...
    Read the full newsflash


    Mt. Gox Moves 142 000 Bitcoin: Will the sell off continue?Mt. Gox Moves 142 000 Bitcoin: Will the sell off continue?
    Tuesday, 28 May 2024 11:21 am
    Speculators have been worried about the latest move from Mt. Gox. They transferred around $10 billion in Bitcoin, along with 67 million in Bitcoin cash - which is expected to go to creditors. This might in worst case result in a sell off the coming days, weeks or even hours. If you rather have some fun on one of the newest Bitcoin casinos than sitting and waiting for how the Mt Gox story will unfold, we recommend that you visit Goat Casino's website. It's the hottest BTC casino in May 2024 and their VIP club and huge range of games are attracting many players from around the world. Yes, it's a VPN friendly casino that accept players from almost any country...
    Read the full newsflash

New Casino Reviews
New Crypto Casinos
Best Crypto Casinos
Recent Crypto Sites
Recent Crypto Coins
  • Shuffle logo
     Shuffle
    ETHEREUM-TOKEN
  • Maker logo
     Maker
    ETHEREUM-TOKEN
  • Mantle logo
     Mantle
    ETHEREUM-TOKEN
Keep up to date with
 

Our Newsletter

Sign up to our newsletter to get the
latest crypto news, new casinos,
bonus offers and other exciting
exclusives.
* indicates required
CryptoLists.com
Copyright © 2019-2022, by Crypto Lists Ltd (CryptoLists.com). Company name: Crypto Lists Limited. Address: 5 Upper Montagu Street, LONDON W1H 2AG, England.
Jump to top