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> Terraform has $3B (ish, stores as Bitcoin) that they could use to try to buy back faith in their coin. Had. It's gone.
by Tao332 4y ago
> Terraform has $3B (ish, stores as Bitcoin) that they could use to try to buy back faith in their coin.
Had. It's gone.
- loopdoend 4y agoWhat a great system they devised for using these funds in an emergency. /s
- gruez 4y agoWhat happened? Last I heard they transferred it to gemini but people weren't sure whether they actually sold it or not.
- sbierwagen 4y agoLFG only said "a counterparty". https://twitter.com/LFG_org/status/1526126703046582272?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet https://twitter.com/LFG_org/status/1526126703046582272?ref_s... They transfered 52,189 BTC between May 7th (When UST dipped to $0.9978, indicating the algo peg was under stress) and the 10th, and another 33,206 when UST hit $0.75. After the insiders were paid off, Terra was free to go to zero. Presumably we'll only find out what actually happened when Do Kwon is in jail and people start testifying against each other in return for lighter sentences.
- Tao332 4y ago$3B of Bitcoin was transferred, no one knows what happened to it, and in the same week, lots of Bitcoin was being sold off. Hmm...