Yugocean
Valued Contributor
Terra (LUNA) developer Do Kwon claims that he utilised the most of his 80k+ Bitcoins from Terra reserve to protect the UST peg, and now he only HODLs 313 BTC, which is insufficient, but he is not out of backup yet.
Various Luna Foundation Guard sources report that Do Kwon still HODLs more than 39k BNB, 1.97m AVAX, and other stablecoins in large quantities.
There is conjecture that the remainder of reserve will be used for LUNA 2.0, but there is no answer to the question why were they so ignorant to protect their project when the coin started falling as suddenly arraived winter temperature?
As UST crumbled, they released billions of LUNA into circulation, completely destroying it.
The reserve will allow money to flow into Luna, but broken trust will not inspire people to believe in them, and there is no guarantee that Do Kwon will not dump Luna 2.0, thus the initiative will face opposition.
