Where Are the $3.5 billion Terra's Bitcoin Reserves, Should this be a Matter of Concern?

The Terra Foundation after accumulating a huge number of Bitcoins worth billions surprised the entire crypto space as it stood as the second-largest BTC holder after MicroStrategy. However, things got messed up as the TerraUSD(UST) got de-pegged heavily which destabilized the LUNA price too. And as speculated by many LUNA Foundation Guard emptied all their …

Timeline of Bitcoin, Terra-luna

A high-ranking member of the Luna Foundation Guard (LFG) said on Monday that the foundation's reserves are almost ready to be deployed, barring a few technicalities. The reserves will be largely targeted towards helping small wallets, and supporting builders and stakers on Terra.

El Salvador's president Nayib Bukele announced in September 2021 that the Central American nation would be the first to accept Bitcoins as legal currency. The government spent $105 million on it, after which the government bought more in 2022.

The crypto market correction sent the prices tumbling with Bitcoin (BTC) trading below $27,000 and Ethereum (ETH) dropping below $2,000 last week. However, long-time Bitcoin bull Bill Miller remains unfazed by the steep decline in prices and remains bullish on the cryptos potential.

CZ Binance would like to see bigger transparency from Terra's team and shared his opinion on what happened with Luna so let's read more today in our latest cryptocurrency news. The CEO of the world's biggest crypto exchange Binance said that he expected some more transparency from Luna's team after last week's UST-LUNA fiasco.

After breaking down from a long-term structure, bitcoin (BTC) has managed to bounce at the $28,700 Fib support area. The post Bitcoin (BTC) Closes Its Seventh Successive Bearish Candlestick appeared first on BeInCrypto.

Binance CEO “CZ” in a tweet on Monday clarified that the exchange did not buy, and does not own any UST. Any UST the exchange had was from trading fees, and is now valued close to zero- following a severe crash in the token.

South Korean financial authorities have launched an emergency study of cryptocurrencies, which is designed to help them pass the “Digital Asset Basic Act,” the country's upcoming cryptocurrency regulation. LUNA crisis hastens Korea's pace in regulating cryptocurrency The digital asset class is currently not regulated in South Korea, but the government has been working on a.

Cryptocurrencies began the week trading sideways but analysts expect further price weakness to come, with Bitcoin far from becoming a safe haven asset. Bitcoin hovered around the US$30,000 support level, having eased 0.8% lower to US$29,524, while its closest rival by market value, Ethereum, gave up 0.3% to US$2,023.

Crypto markets have stabilized after last week's bloodbath and on-chain asset movements may suggest that institutional investors are starting to load up on BTC again. The post Institutions May Be Accumulating Bitcoin After Major Exchange Movements appeared first on BeInCrypto.

Thirty two central bankers and 12 financial chiefs representing 44 nations will meet in El Salvador later today, per the nation's President Nayib Bukele, who claimed that – among other things – the group will discuss bitcoin (BTC).