Onchain data indicates that the wallet of Terra’s Luna Foundation has sent at least three tranches each of $125 million worth tether. Reports also indicate that the Luna Foundation confirmed recent bitcoin purchases.
Onchain Data indicates that Terra’s Luna Foundation has sent 3 Tranches Of Tether to Buy Bitcoin. Foundation confirms Bitcoin Address
Bitcoin.com News published a report two days ago on Terra’s founder Do Kwon talking about how he hopes to build with bitcoin. According to the report, $125 million was transferred in tether ( USDT) from a wallet that is reportedly derived from Terra’s Luna Foundation.
It is a Google safe address that holds $1.39 Billion in ERC20 stablecoins such as tether ( USDT ) and usd coin(USDC). Two days after the $125 million transfer in tether, there were two additional transactions of the same amount. On March 23, $125,000,000 in tether was transferred and the next day, $124.9 Million in USDT were transferred.
While there has been a lot of speculation about the purchase, Bitcoin Magazine’s official account tweeted March 23: “Luna Foundation confirms 6,000 Bitcoin purchases worth $250 million to support its UST stablecoin.”
The Twitter account also left a Blockchair Explorer PDF document showing the Luna Foundation’s BTC location. The Twitter account also added that the 5,934 bitcoins – bought today and yesterday- would be wrapped on Cosmos, and deposited into smart contracts supporting algorithmic stablecoins.
Blockchair’s blockchain-explorer shows that the wallet holds 18,423 Bitcoin, worth $788.5 Million. It received 440 Bitcoin as its last transaction, but has also received transactions totalling approximately 1,499, 999 and 498. 499, 499. 499. 500 and 501 Bitcoin. This was first received March 23, 2022.
These transactions were sent without privacy tactics. Blockchair’s privacy o-meter tool gave most transactions a privacy score either “critical” or 0. Three critical issues were associated with the privacy of the transaction, and one privacy vulnerability was “matched address”.
The Terra-owned Gnosis safe location still holds $999.35 Million worth of tether ( USDT) as well as $397.23 Million worth of usd coins (USDC) at the time of writing.
