Luna Foundation Guard Seeks Funding as UST Crashes From Peg Again

-The Luna Foundation Guard has been reaching out to investors in order to raise funds to shore up the embattled stablecoin
-The LFG is looking to raise more than $1 billion to collateralize the UST stablecoin
-The move comes as no surprise as the stablecoin has decoupled from the U.S. dollar, plunging below $0.70 on two occasions this week
-Terraform Labs founder and CEO Kwon Do has kept quiet about the fiasco and the funding has yet to be confirmed
-The Luna team has stated that there will be no “death spiral” if the UST market capitalization is greater than that for LUNA
-According to a Google analytics dashboard, nearly all of the USD reserve balance was used to shore up the stablecoin
-The stablecoin recovered to more than 90% of a dollar on May 10, but it has taken another turn south on May 11

shutterstock terra luna defi.jpg Luna Foundation Guard Seeks Funding as UST Crashes From Peg Again
Luna Foundation Guard Seeks Funding as UST Crashes From Peg Again 2

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