Déjà vu…? Terra's Luna Foundation Guard spent nearly all of its Bitcoin reserves—totaling over 80,000 BTC—in May 2022 during a futile attempt to defend the $1 peg of its algorithmic stablecoin, UST. The emergency reserve of Bitcoin was liquidated in the following ways: • 52,189 BTC: Transferred to trade with an over-the-counter counterparty as UST's value plummeted. • 33,206 BTC: Sold directly in the open market in a last-ditch effort to save the peg. • Remaining Reserve: Only 313 BTC (worth approximately $9.3 million at the time) remained.(Ali Charts)