Join the larget crypto conference of 2022 in Bitcoin
$ 39,046

Terraform Labs will reserve $10B worth of Bitcoin behind stablecoin

Terraform Labs will reserve $10B worth of Bitcoin behind stablecoin 2

The founder of Terraform Labs decided to set a new standard for Bitcoin by reserving it under the reserve fund of its stablecoin. 

Terra blockchain is known to provide stable coins support. Its native coin is Luna and its stable coin UST is popular in the global crypto community, which is pegged by exactly the value of 1 dollar. The main initiative of this project is to provide a better Ecosystem to the financial Dapps. 

At the beginning of this week, Do Kwon,  founder of Terraform Labs (TFL), notified his followers on Twitter that Terraform Labs aimed to reserve a total of $10 billion worth of Bitcoin behind the stable coin UST.

Kwon noted that the latest initiative of Terra will make a new Bitcoin standard. 

A crypto new website asked Terraform Labs founder, regarding this initiative, whether it was an old plan or it is a new plan for this phase. On this Kwon said that there is no difference between these two and they are already buying Bitcoin.

“I don’t understand the distinction, We’re already buying Bitcoin.”

A Twitter user asked whether the team will sell Luna to buy Bitcoin or not. In response, Kwon said that Luna will remain reserved.

On the details of Bitcoin holding, a Twitter user asked where we will get details for the same, then Kwon said they will provide details about it soon. 

These initiatives are not much strange but here the amount of Bitcoin holding is really a big thing and it will further influence other companies to reserve funds in Bitcoin. 

Read also: Crypto is now a legal assets payment tool in Ukraine

Terraform Labs will reserve $10B worth of Bitcoin behind stablecoin


Buy bitcoin and other cryptocurrencies on crypto exchanges  Binance ,  Coinbase ,  Kraken  and  Bitfinex !

Don’t miss a thing, sign up for our newsletter

Subscribe To Newsletter

For updates and exclusive offers, enter your e-mail below.


BINANCE - The Exchange with the Most Trading Volume in the Wold

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

--------------------------Ads by Cryptonews24--------------------------------------
CocaCola Investing Platform

✅Brand new company platform launched 17/09/2022🔥💯


👉🏼Coca-Cola 👈

Don't miss Coca-Cola if you want to generate passive income.

It is a brand new company with stable and moderate income that will help investors earn money in the long run.

Say no!! on sites with high commissions, they only last a few days.

Coca-Cola is a legitimate company and supplies are standard.

$5 sign up bonus

-Minimum deposit $20
-Minimum withdrawal $10

Withdrawal time 0~10 minutes💯 ✅

Get 7% of your deposit everyday🔥
-Deposit 20, Get $1.5 Daily ✅
-Deposit 30, Get $2.1 Daily ✅
-Deposit 50, Get $3.5 Daily ✅
-Deposit 100, Get $7 Daily ✅
-Deposit 200, Get 14 Daily ✅

Get 10% of your first deposit and 10% on invite deposits 😱

Reward Invitations🏅
-30 valid members, get $100 reward ✅
-60 valid members, Get $150 reward ✅
-100 valid members, Get $350 reward ✅
Note: Valid member charges $30 and up

Deposit Reward🏅
Get 10%, 2% and 1% of Lv1, Lv2 and Lv3 group deposits.

A lot of activities will be organized in the main group to help hardworking members make a lot of money 💰

Registration link

This is a long term project!! Do not miss it!!! 💎 💎 💎 💎 💎


Cryptonews24 Channel Chat