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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (187633)	5/15/2022 11:08:45 PM
From: TobagoJack	Respond to of 217592

Hmmmmmnnnnn Always some 'Hmmmmmmmmnnnnn's' bloomberg.com Whereabouts of Terra’s Bitcoin Reserve a Mystery After Transfers Bitcoin moved to accounts on Gemini, Binance, Elliptic says Researcher wasn’t able to track tokens after move to exchanges Dave Liedtka 15 May 2022, 07:31 GMT+8 Photographer: Brent Lewin/BloombergThe $3.5 billion in Bitcoin purchased as a reserve by the foundation set up by the creators of the failed Terra blockchain became untraceable after it was moved to two cryptocurrency platforms, according to blockchain forensics firm Elliptic. What happened to the cryptocurrency held in reserve may become a key question if investors seek to recoup losses suffered in the wake of the collapse of the blockchain. Meet the Hedge-Fund Manager Who Warned of Terra’s $60 Billion Implosion Between January and March, the Luna Foundation Guard, or LFG, bought $3.5 billion of Bitcoin, Elliptic said, according to its blockchain analytics tracking tools. When the value of Terraform Lab’s TerraUSD, or UST, stablecoin began to fall on May 9, the foundation said it would use Bitcoin from the reserve to purchase UST in order to maintain its one-to-one peg with the dollar. Over the next day, the crypto wallets used to hold the reserves were emptied, Elliptic said. Bloomberg About $1.7 billion was sent on May 9 from LFG wallets to a new address through two transactions after Terra co-founder Do Kwon said the funds would be used to support the peg. Within hours, the entire amount was moved to a single account on the Gemini crypto exchange through several transactions and it was not possible to trace the assets from that point, Elliptic wrote. The remaining Bitcoin reserves were moved on May 10 in a single transaction to an account on the Binance exchange, Elliptic said. The blockchain analytics firm isn’t able to identify whether the assets were sold or moved to other wallets at that point. Read More: Terra $45 Billion Face Plant Creates Crowd of Crypto Losers