Over the weekend, the Luna Foundation Guard purchased $173 million worth of bitcoin, but bitcoin is currently down 2%.
Over the weekend, the Luna Foundation Guard (LFG), the treasury that backs the TerraUSD algorithmic stablecoin, added $173 million in bitcoin to its wallet after a series of purchases. LFG currently holds 39,897.98 bitcoin in its wallet, valued at $1.67 billion.
LAST WEEK, the LFG undertook a number of digital asset purchases: On April 6, it acquired $230 million in bitcoin and $200 million in AVAX.
Do Kwon, Terra's creator, has stated that the foundation intends to purchase $10 billion in bitcoin to "start a new monetary age under the bitcoin standard."
According to CoinDesk market statistics, bitcoin's price has dropped nearly 2% in the previous 24 hours to $42,037.
The Times' feature, which is the second in the last month to take a deep dive into crypto, exemplifies mainstream media's growing coverage of the area.
In the absence of federal rules, crypto executives and lobbyists are working with state politicians around the country to develop favourable laws, according to the New York Times.
Many governments are hurrying to meet crypto businesses' legislative desires to attract the employment they believe the technology will bring.
The report referenced new Florida money-transfer laws as the latest example of crypto sector representatives collaborating with politicians to produce industry-friendly legislation.
Some consumer advocates are concerned that governments' accommodating attitudes would lead to legislation that does not adequately protect consumers against crypto frauds and dangerous activities.
According to the New York Times, more than 150 pieces of crypto-related legislation are now pending in state legislatures and Puerto Rico, citing a study by the National Conference of State Legislatures. Legislators have utilized industry-suggested phrasing virtually literally in several circumstances.
According to state data, the business spends more than $140,000 every month in New York, according to the Times.
While the article is notable for its overview of the crypto industry's growing power at the state level, its publication, which comes less than a month after the Times published a sophisticated and well-done introduction to cryptocurrencies, also speaks to the mainstreaming of cryptocurrency in the United States and a growing interest in traditional media coverage.
As unbelievable as it may sound, digital fashion has progressed so far that it now needs fashion week, complete with all that entails, from runway displays and presentations of new collections to public speeches and DJ parties. Decentraland, a decentralized virtual social network based on the Ethereum blockchain, hosted the first-ever digital fashion week from March 23 to 27.
Previously, Jonathan Simkhai showed his collection in Second Life just before New York Fashion Week. After the concert, skins of evening ensembles were available for purchase at NFT to style up users' avatars in Second Life.
Decentraland also hosted the world's first five-day full-fledged fashion week. On the first day, Selfridges opened a store where NFT of the genuine exposition in London — the future of Victor Vasarely's work and the impact he had on his contemporary Paco Rabbane named UNIVERSE — was on display. NFT outfits and Fondation Vasarely artworks are available for purchase.