Luna Foundation Guard Lends $1.5 billion in BTC and UST for Stablecoin Peg

Luna Foundation Guard lends $1.5 billion in BTC and UST for stablecoin peg

Luna Foundation Guard (LFG) will lend $1.5 billion in bitcoin (BTC) and TerraUSD (UST) to defend the peg of its algorithmic stablecoin to the U.S. dollar.

In a tweet thread, the Singapore-based LFG said it would loan $750 million worth of BTC to trading firms to help protect the peg and also loan $750 million in UST to accumulate Bitcoin to help normalize the market.