Audit reveals Luna Foundation Guard spent $2.8B to defend UST peg in May
According to the report, Terraform Labs also spent $613 million of its capital to defend the UST peg. JS Held wrote that LFG’s May 16 tweets about its defense operation were accurate except for certain tweets based on estimates — the auditor said the estimates did not affect the calculation of the ending balances. According to the Foundation, all peg defense activities occurred in the open markets, with no special preference for any party. The Foundation also wrote that its funds were not frozen. It added that they are kept in self-hosted wallets that have not been moved since May 16. Speaking on the revelation, Luna Foundation said the audit dispels rumors that there was embezzlement of funds or that the funds were used to profit insiders.
Source
https://t.me/Terra_Luna_Tron
