The Luna Foundation Guard (LFG), the Singapore-based nonprofit | 🥂PARTY

The Luna Foundation Guard (LFG), the Singapore-based nonprofit behind TerraUSD, said it spent most of its reserves defending the dollar peg last week. The remaining funds will try to use to compensate for the losses of some users.
The Luna Foundation Guard said on Twitter on Monday that it will use its remaining holdings to compensate the remaining users of the stablecoin, starting with the smallest holders, though it has yet to decide the best way to do so.

The organization has built up a large reserve of more than 80,000 bitcoin and millions of dollars of other stablecoins to support TerraUSD, most of which it says it spent trying to support the token last week.

Initially, LFG promised to raise a reserve of $10 billion in bitcoin. At the moment, 313 bitcoins remain in reserve, as well as other assets, the company announced on Twitter.The incident drew particular attention, including from financial regulators, to stablecoins and the role they play in the cryptosystem as the main means of moving money between cryptocurrencies or converting balances into fiat money.