We are trying to make the Binance SQUARE Platform more valuable and attentive for you. Here are the details of our news;
Luna Foundation Guard (LFG) recently made a sudden and large transfer of altcoins.
It is noteworthy that this transfer took place immediately after the preliminary agreement made with the SEC. A wallet belonging to LFG transferred 1.974 million AVAX worth $71.2 million and 39,499 BNB worth $23.5 million about 4 hours ago to a new address starting with "0x134".
This move increased speculation about LFG's future plans and the real reasons behind the transfers. Apparently, this move was made to make LFG's holdings safer. As a matter of fact, Luna Foundation recently announced its direct custody plan. Accordingly, it appears that LFG has transferred Avalanche and BNBs to a new address to ensure greater security.
LFG signaled these transfers in its post and stated that this step aimed to increase the security of the funds.
It remains unclear whether these transfers were made within the scope of the preliminary agreement reached with the SEC. Details of the agreement will not be announced until official filings in June, but experts expect it to include significant financial compensation.
As it is known, the US SEC demanded heavy fines and a permanent ban from the securities industry for Terraform Labs and its founder Do Kwon in the lawsuit it filed.
According to Arkham data, the wallet belonging to Luna Foundation Guard still contains 313 Bitcoin (BTC) worth approximately $21.3 million, 50,368 Ethereum (ETH) worth $188.5 thousand, and small amounts of various altcoins.
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So who will benefit?
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I EXPLAIN IN DETAIL.
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