TechFlow news — Terra founder Do Kwon tweeted that UST, combined with over $10 billion in BTC reserves, will usher in a new monetary era under a Bitcoin standard. When asked where the $10 billion in BTC would come from, Do Kwon clarified it is not yet at $10 billion. As the UST supply grows, part of the seigniorage will be used to build a BTC reserve connected to the Terra chain. We have $3 billion ready to establish this reserve, but the technical infrastructure (such as cross-chain bridges) is not yet in place. Regarding the source of the $3 billion, Do Kwon stated that LFG recently raised $1 billion through an OTC sale and another $1.2 billion by selling UST for Tether, leaving a funding gap of $800 million.
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