As the cryptocurrency industry continues to be shaken by the Terra blockchain’s failure and the price crash of its native token, LUNA, and its algorithmic Stablecoin, UST, suspicions have arisen concerning the whereabouts of around 80,000 Bitcoin units belonging to the ecosystem.
The claimed Bitcoin was intended to be held in trust by the Luna Foundation Guard, a non-profit charged with maintaining the ecosystem.
Changpeng Zhao, the CEO of the world’s largest crypto exchange by trading volume, first posed the issue on Twitter, asking where Terra’s Bitcoin reserves had gone, after expressing his own views on the beleaguered blockchain.
Personal opinion. NFA. This won't work. – forking does not give the new fork any value. That's wishful thinking. – one cannot void all transactions after an old snapshot, both on-chain and off-chain (exchanges). Where is all the BTC that was supposed to be used as reserves? https://t.co/9pvLOTlCYf — CZ
License.
