After UST lost it's peg and briefly dropped to 0.92, it appears they are desperately trying to recover.
They just transferred all their BTC out of their wallet, probably going to dump it on the market in order to try to save UST.
Good luck to everyone who put money in UST. It will probably recover this time around because they got the BTC to sell or lend, but this just proves that UST isn't the great stablecoin that this sub portraits it at.
Be careful with UST going forward, this definitely won't be the last time that it's briefly losing it's peg and one day it might not recover.
Edit: 37,000 BTC that originated from the Luna foundation wallet is being transferred to Gemini exchange
https://www.blockchain.com/btc/tx/2195e45c27826de5ea6086ea5d35d0c00485079910d24b8dd96972f8d7faa7e0
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