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HomeCryptoTerra price collapses after attempt to rescue stablecoin

Terra price collapses after attempt to rescue stablecoin

A complete collapse of Terra

Rumors of a complete collapse of Terra quickly spread on social media. Nevertheless, the company co-founder, Do Kwon, kept calm. However, the founder had to liquidate a huge number of Bitcoins to save the stablecoin.

Data from monitoring source BitInfoCharts confirmed the huge sales. The balance of the de Luna Foundation Guard went from 70,000 Bitcoin, (worth $2.23 billion), to 0 Bitcoin.

The Luna Foundation Guard did say that they have not sold all Bitcoin and promised to update the community on the current situation.

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