On-chain analyst: Terraform Labs’ address saw a change of $8 million today, and the treasury reserves may still be quite sufficient.
On X platform, on-chain analyst John Galt stated that the development team of Terra, Terraform Labs, has deployed approximately $8 million worth of mainstream cryptocurrencies (BTC, ETH, USDC, SOL) into DeFi applications on the Terra blockchain. Currently, Terraform Labs' multi-signature address holds $10 million USDC, $3 million worth of BTC, as well as tokens such as MATIC, ARB, and MKR.
John Galt then added that Chris Amani took over as CEO of Terraform Labs about six months ago, and there are still some old employees from before the LUNA collapse, but also some new hires.
Finally, John Galt stated that Terraform Labs' treasury reserves are rumored to be still quite large, "much larger" than the assets they have deployed to the multi-signature address.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Genius Group Ordered to Sell Bitcoin Holdings
Genius Group must sell 10 BTC due to a court order, slashing its crypto treasury and market cap significantly.Unexpected Setback for Genius GroupMarket Cap Falls Below Bitcoin ReservesConcerns About Stability and Transparency
Ethereum Price Sees 4 Straight Red Months
Ethereum has closed four red months in a row, but long-term holders remain hopeful for a rebound.Ethereum’s Tough Streak ContinuesHope on the Horizon for Ethereum Holders
Nexchain Emerges as April’s Best ICO: A New Era for Blockchain
Nexchain is committed to facilitating interoperability from one blockchain to the next through artificial intelligence, allowing for cross-chain communication and operational efficienciesConclusion
Bitcoin Volatility Expected as U.S. Jobs Report Looms
U.S. jobs data and Powell’s speech today could trigger major Bitcoin volatility. Here’s what to watch.What to Expect from Today’s Market MovesWhy Bitcoin Traders Are Watching Closely
Trending news
MoreCrypto prices
More
