Crypto Hedge Fund Arca Nearly Doubles Sales for Flagship Fund Despite LUNA Exposure

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In an investor letter sent out in May, Arca revealed exposure to Terra’s native token LUNA and its stablecoin terraUSD (UST). The algorithmic stablecoin lost its peg to the dollar in a dramatic collapse, taking LUNA with it. Arca said Digital Assets held LUNA at the time of the letter, which still predicted a recovery for the Terra tokens.

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