Terra founder Do Kwon plans to obtain $10B BTC for reserves
Mar 17, 2022 12:13 PM
- The founder of blockchain company Terraform Labs, Do Kwon, said the firm plans to buy $10 billion worth of Bitcoins to ensure the stability of the Terra USD (UST) staple.
- Terra is a decentralized blockchain platform that specializes in steblecoin mining, Its Terra USD (UST) is an algorithmic stablecoin pegged to the value of the U.S. dollar, with the value of the dollar partially supported by an equivalent amount of its native LUNA token.
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