Jump Crypto Leads $1B Token Sale for Luna Foundation

Fresh off their saving the world following the $320 million Wormhole hack, Jump Crypto is back, this time leading a $1B raise for the Luna Foundation.

Jump Crypto made a lot of headlines earlier this month when it was announced that they stepped up to replace 120,000 ETH stolen in the Wormhole hack. Acting quickly, the firm covered a massive shortfall, protecting users and undoubtedly limiting any further blow-back to the broader DeFi ecosystem.

Apparently going from strength to strength, the trading firm is back in the headlines after it was announced that they led a $1B token sale for the Luna Foundation. The raise establishes a forex reserve for Luna’s stablecoin, UST, denominated in Bitcoin.

Check out the recent Twitter thread authored by the team to learn all the details. The move certainly signals strong confidence in not only UST, but the broader Luna ecosystem. Moreover, because the fund is denominated in Bitcoin, UST is now backed by an asset that has the strongest history and decentralization in the space.