It's been a wild weekend for LUNA and the UST stablecoin 😱
That's because the Luna Foundation Guard, a nonprofit tasked with building reserves for UST, now holds a staggering 80,000 BTC — a war chest it would begin to sell to defend the stablecoin's peg if necessary.
UST and LUNA are based on the Terra blockchain, and its co-founder Do Kwon appeared amused by the weekend frenzy on Twitter — describing it as an "amusing morning" and adding: "I love chaos."
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