LFG sent 80,394 bitcoins from its reserves to Gemini and Binance

In response to where Terra’s Bitcoin reserves went when Terra was in trouble, Luke Martin, a prolific member of the Twitter crypto community, reportedly said, citing data from crypto analytics firm Elliptic, that the LFG Foundation Tokens have been moved to two places. The first batch of 52k was transferred to Gemini, while another 28k was transferred to Binance. Another crypto analytics site, CryptoQuant, said the 37k was sent to Gemini on May 9. The 37k units have been loaned to market makers by the foundation to save the ecosystem from collapse. As of press time, the LUNA Foundation has not released any information on where its bitcoin assets are going, but Terra CEO Do Kwon had earlier said that the movement of the ecosystem’s bitcoin would be made public soon.