Terra Founder Addresses Concerns on Any Loss of Bitcoin Peg to UST Stablecoin

CoingapePublicado em 2022-04-05Última atualização em 2022-04-05

Resumo

Terra’s parent entity Luna Foundation Guard (LFG) has been on a massive Bitcoin acquisition spree to peg BTC to its stablecoin UST.

Terra’s parent entity Luna Foundation Guard (LFG) has been on a massive Bitcoin acquisition spree to peg BTC to its stablecoin UST. Terraform Labs founder Do Kwon recently said that he’s even willing to become the second-largest Bitcoin holder after Satoshi Nakamoto.
However, many people are raising concerns over future liquidity amid this heavy accumulation by a single entity. Addressing these concerns, Do Kwon said that Bitcoin is “liquid” enough to handle any potential de-pegging of its UST stablecoin. During an interview with Bloomberg Quicktale on Monday, April 4, Kwon said:
“People need to have a little bit more faith in crypto. If you look at Bitcoin, it turns over more than US$20 billion per day and I think with time, it’s going to be even more liquid. Even if a stablecoin were to de- peg over time and those reserves would be used to defend that peg. I think (the Bitcoin market) would more than easily be able to absorb the Bitcoin that enters the market”.
Terra is planning to have $10 billion worth of Bitcoin to serve as a reserve for its decentralized UST stablecoin. The Luna Foundation Guard already completed a purchase of $1.5 billion worth of Bitcoin last month.
TerraUSD (UST) Taking Different Approach
Terra’s native stablecoin UST is currently the third-largest by market cap. But unlike the top two stablecoins – USDT and USDC – the TerraUSD (UST) takes a different approach.
USDT and USDC are centralized stablecoin in a manner that they are directly pegged to a fiat currency. On the hand, Terra’s UST stablecoin maintains its peg by burning the LUNA tokens. A Bitcoin reserve will further help UST’s ability to maintain its dollar peg. Kwon explained:
“The important thing to remember about Terra is that is a decentralised stablecoin in the sense that it has no issuer. If you were holding some sort of centralised collateral…bonds, Tether stablecoin, or (Circle’s USDC), in that case, whoever is holding the largest amount of these reserves would be subject to censorship, and would defeat the entire purpose of having decentralised stablecoin in the first place”.
LUNA has been one of the top-performing cryptocurrencies in the market. The LUNA price has appreciated more than 100% over the last month ever since the LFG started with its Bitcoin purchases. As of press time, LUNA is trading close to its all-time high of $116 as the seventh-largest cryptocurrency with a market cap of $41 billion.

Leituras Relacionadas

$19.2 Billion Pours into Bitcoin ETFs: Bessent Doubles Bond Buyback, Ignites $2.74 Billion Short Squeeze in 48 Hours

**Headline:** $19.2 Billion Flows into Bitcoin ETFs: Treasury Doubles Bond Buys, Sparking 48-Hour Crypto Short Squeeze **Summary:** The crypto market experienced a sharp reversal driven by a confluence of macro events. U.S. spot Bitcoin ETFs recorded their largest weekly inflow of 2026 at $1.92 billion. The key trigger was the U.S. Treasury's surprise announcement to double its long-term bond repurchase program to $4 billion, which lowered long-end yields and sparked a massive $2.74 billion short squeeze over two days. This was amplified by a pro-crypto White House meeting with industry CEOs and the SEC's first formal proposal for crypto asset regulation. However, the rally's leveraged nature was exposed by a weekend flash crash where XRP plummeted 37%, leading to $1.71 billion in liquidations in six minutes. The market now watches for signals from the upcoming Jackson Hole symposium and the potential passage of the CLARITY Act by mid-September. While ETF inflows and the Treasury's move provided a significant boost, the event underscored underlying market fragility.

marsbitHá 6m

$19.2 Billion Pours into Bitcoin ETFs: Bessent Doubles Bond Buyback, Ignites $2.74 Billion Short Squeeze in 48 Hours

marsbitHá 6m

a16z Deep Dive: Stop Chasing the 'AI Smell', Here's a Practical Guide to Writing with AI

"Don't Obsess Over AI Detection: A Practical Guide to Writing Alongside AI" by Steph Zinn (a16z Crypto) This guide moves beyond the flawed premise that AI-generated text can be easily spotted by a set of "tells" and that these features automatically mean poor quality. Instead, it focuses on how writers and founders can use LLMs effectively by understanding, controlling, and editing the common stylistic tendencies of AI-assisted prose. The article breaks down AI writing "tells" into four key dimensions: **1. Rhetorical Features (Insight-Shaped Writing):** AI often produces semantically empty, "corporate-sounding" filler language—vague profundities, hedging phrases, excessive parallelism, and summary statements. The advice is to ruthlessly edit these out, using prompts to make language more specific and direct. **2. Voice Features (The Alexa Voice):** Default AI writing relies on a narrow, fungible vocabulary of low-friction, abstract words and cliché phrases that lack personality. While this generic voice is acceptable for support docs or mass communications, founders should preserve their unique voice for impactful writing. Use LLMs to identify and replace jargon, aiming for concrete, distinctive word choices. **3. Structural Features (Form Without Function):** AI tends towards over-structured text with excessive subheadings, lists, roadmaps, and the rigid "three-point" framework. While clear structure is good for readability and SEO, it shouldn't force ideas into unnatural containers. Choose a structure that serves the format and purpose, borrowing from effective examples. **4. Punctuation Features (Dash Panic):** The overuse of em dashes and colons has become a hallmark, but writers shouldn't avoid useful punctuation just to seem "human." The key is avoiding repetitive, distracting patterns. Use punctuation that is grammatically correct and supports the flow of your argument. The core argument is that many so-called AI flaws are just amplified versions of existing bad writing habits. The goal isn't to eliminate AI's role but to use it as a tool while maintaining editorial control. The final question shouldn't be "Can this be detected as AI?" but "Does this writing effectively do its job?"

marsbitHá 25m

a16z Deep Dive: Stop Chasing the 'AI Smell', Here's a Practical Guide to Writing with AI

marsbitHá 25m

Podcast Notes | Conversation with Tom Lee: Bitmine Acquiring Nearly 5% of Total ETH Supply Is Not the End Goal, ETH Price Target Set at $10,000

In a podcast interview, Tom Lee, Chairman of BitMine Immersion Technologies, discusses the company's strategy to accumulate nearly 5% of the total Ethereum supply within 14 months, using equity financing and avoiding debt. BitMine has consistently purchased ETH for over 60 consecutive weeks, with recent weeks combining buybacks with purchases. The company's substantial ETH holdings generate approximately $300 million in annual staking rewards, covering operational costs like the dividends for its 9.5% perpetual preferred stock (BMNP). Lee positions ETH as a store-of-value asset, likening it to stocks or land, rather than a pure cash-flow instrument. Looking ahead, Lee suggests BitMine may continue buying beyond the 5% target if institutional adoption grows. He outlines a bullish price target for ETH: surpassing $5,000 in a new crypto bull cycle and potentially exceeding $10,000 within 1-2 years, driven by Wall Street tokenization and AI-related demand. The discussion also covers BitMine's evolution into an ecosystem player, funding Ethereum Foundation spin-offs and developing its Maven staking platform. Lee acknowledges his significant financial interests are tied to ETH's price and BitMine's performance. The interview provides a framework for evaluating ETH as a long-term asset, emphasizing staking yield sustainability and future institutional demand, while noting the uncertainties surrounding macro cycles and real-world adoption.

marsbitHá 26m

Podcast Notes | Conversation with Tom Lee: Bitmine Acquiring Nearly 5% of Total ETH Supply Is Not the End Goal, ETH Price Target Set at $10,000

marsbitHá 26m

Ripple's RLUSD Market Cap Exceeds $2 Billion, With Nearly $1 Billion on XRP Ledger

Ripple USD's ($RLUSD) market capitalization has surpassed $2 billion, with nearly $1 billion issued on the XRP Ledger. Launched in December 2024, the stablecoin is backed by reserves of cash and cash equivalents, attested monthly by Deloitte. Data shows $RLUSD's market cap at approximately $2.02 billion, split almost evenly between the XRP Ledger ($962.8M) and Ethereum ($1.05B). This represents an eight-fold increase since April 2025. The stablecoin has provided significant dollar liquidity to the XRP Ledger, with over $2.5B processed through RLUSD trading pairs. Ripple is expanding RLUSD's utility through payments integrations (including Mastercard), exchange listings, regional distribution deals, and support for institutional lending initiatives on the XRP Ledger. A new platform, Ripple Mint, also allows qualified institutions to manage RLUSD issuance and redemptions.

cryptonews.ruHá 58m

Ripple's RLUSD Market Cap Exceeds $2 Billion, With Nearly $1 Billion on XRP Ledger

cryptonews.ruHá 58m

Pricing Risk Assets in 8 Hours: Tonight's PCE to Set the Discount Rate, Nvidia to Test Earnings Tomorrow Morning

"Pricing Risk Assets in 8 Hours: PCE to Set the Discount Rate Tonight, NVIDIA to Test Profits Tomorrow Morning" Risk asset prices hinge on two variables: the numerator (earnings expectations) and the denominator (the discount rate). Both will be recalibrated within eight hours. First, at 20:30 Beijing time, the US Bureau of Economic Analysis releases July PCE inflation data and the second estimate of Q2 GDP. Consensus expects mild core PCE growth, but a surge in key PPI components poses an upside risk. A hotter-than-expected print could push Treasury yields and the dollar higher, threatening the recent rally in Bitcoin (BTC) above $80K, which was fueled by falling yields. A benign reading would support risk assets. Market sentiment is already "greedy" (Fear & Greed Index at 74), making it vulnerable to disappointment. Second, around 04:20, NVIDIA reports its Q2 FY27 earnings. While consensus revenue of ~$91.85B slightly exceeds company guidance, the market has priced in a beat. The key will be the magnitude of the beat and, crucially, the Q3 guidance. As a bellwether for tech and AI narratives, NVIDIA's results will significantly impact overall risk appetite and AI-related crypto tokens. The combination creates four scenarios: 1) Benign PCE & strong NVIDIA guidance confirms the bullish trend. 2) Hot PCE & strong NVIDIA leads to conflicted signals and likely volatility for BTC. 3) Benign PCE & weak NVIDIA guidance pressures tech but offers some macro support for BTC. 4) Hot PCE & weak NVIDIA guidance presents a "double whammy," risking a sharp pullback in BTC toward the $75K-$76K support zone. The outcomes will set the tone for markets ahead of the upcoming Jackson Hole symposium.

marsbitHá 59m

Pricing Risk Assets in 8 Hours: Tonight's PCE to Set the Discount Rate, Nvidia to Test Earnings Tomorrow Morning