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Luna Foundation Can’t Offer Good Reason Why It Hasn’t Repaid Investors

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Crypto researcher FatManTerra slams Terra Luna Foundation Guard’s defense on why it can’t repay bereft TerraUSD (UST) investors.

FatManTerra responded to a tweet by the Luna Foundation Guard on October 7, 2022, where it updated its Twitter following on why it hasn’t yet reimbursed UST holders after the stablecoin crashed in May 2022.

In the tweet, LFG reiterated its commitment to reimburse smaller investors using its remaining asset reserves:

1/ Since $UST’s depeg in May, there has been understandable interest in LFG’s assets and how they will be distributed. As mentioned, our goal is to distribute LFG’s remaining assets to those impacted by the depeg, smallest holders first.

— LFG | Luna Foundation Guard (@LFG_org) October 7, 2022

This tweet comes as the first update on the situation since a May Twitter thread, where LFG said that it was planning to use all its remaining funds to “compensate remaining users of UST, smallest holders first,” but has yet to do so, citing litigation woes: 

2/ Unfortunately, due to ongoing and threatened litigation, distribution is not possible at this time. While these matters are outstanding, there can be no timeline established for resolution.

— LFG | Luna Foundation Guard (@LFG_org)


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