The nonprofit Luna Foundation Guard (LFG) has revealed information about the status of the reserve fund after it tried to save the algorithmic stablecoin TerraUSD (UST).

In early May, LFG bought about $1.5 billion worth of additional bitcoins, bringing its balance in the first cryptocurrency to 80,394 BTC. As of May 7, the fund held funds in several other crypto assets, including Tether (USDT), USD Coin (USDC), Binance Coin (BNB), Avalanche (AVAX), as well as UST and Terra token (LUNA).

Analysts at The Block Research have calculated that the total value of the coins in the reserve fund is almost $3.2 billion.

On May 8, the UST lost its peg against the US dollar. This happened against the background of the exit of assets from the Anchor protocol as the rate of return on deposits dropped to 17.87%.

On May 10, the asset’s quotes fell below $0.62. The decline continued on May 11, after which the LUNA cryptocurrency used to issue the UST fell to $0.3.

The LFG team spent ~26.3M USDT, ~23.5M USDC and 33,206 BTC to support the stablecoin stable, and reclaimed the coin’s oversupply. The further movement of 47,188 BTC in the establishment has not been disclosed.

On May 17, LFG reported holding 313 BTC and the same amount of BNB and AVAX. Volumes of the entity’s depreciated UST and LUNA have increased significantly. According to The Block Research, the value of the reserves fell to ~$268.3 million and was ~$87 million excluding project tokens.

After the release of LFG on the status of the fund, the stablecoin’s price dropped from around $0.14 to close to $0.09.

LUNA quotes fell below $0.0002 (CoinGecko).

LFG said it hopes to “use the remaining assets to compensate UST users, primarily those of small value.”

Recall that Vitalik Buterin urged the project to focus on paying back losses to small investors.