Luna Foundation Guard (LFG) has disclosed information about the state of its crypto reserves. The company also said that it will try to compensate users for losses incurred due to the fall of the UST algorithmic stabelcoin.
According to LFG, the company’s reserves before the dump amounted to 80,000 bitcoins, but now there are only 313 BTC in reserves.
“In keeping with its nonprofit mission and focus on the health of the Terra ecosystem, beginning May 8, when the price of UST began to fall significantly below one dollar, the Foundation began converting that reserve to UST,” the company said.
Thus, LFG’s reserves to date include 313 BTC; 39,914 BNB; 1,973,554 AVAX; 1,847,079,725 UST; 222,713,007 LUNA (221,021,746 of which are in validator stacking).