A statement that could shake the agenda came from Binance Founder Changpeng Zhao. Talking about Terra Luna, Binance CEO didn’t give any good news.
Billionaire Binance founder Changpeng Zhao stated that he became poor after his investment.
Its went bankrupt because of TerraLUNA!
Changpeng Zhao, founder and CEO of giant cryptocurrency exchange Binance, stated that he was ‘poor’ after the crypto token LUNA crashed. The founder of the world’s largest cryptocurrency exchange, Zhao, brings to mind the questions of whether the tweet, in which he lost more than a billion dollars, is real, even though he leads a billionaire life, according to a report.
Binance founder Zhao stated in a tweet on Monday that the exchange invested $1.6 billion in the LUNA cryptocurrency just a month ago. After the collapse that occurred a month later and the investment fell to $2,200, the founder said he was ‘poor again’.
At the same time, in a tweet, Zhao stated that Binance, the world’s largest cryptocurrency exchange, has 15 million Luna tokens. Binance received these tokens in 2018 in exchange for a $3 million investment in the Terra network on which Luna is based. According to Zhao, Luna tokens were “neither transferred nor sold” as of Monday.
Binance’s LUNA Holdings was valued at $1.6 billion in early April when the coin hit its peak. However, its latest crash has reduced that value to around $2,200 this week.
LUNA’s value has dropped rapidly, especially in the last two weeks. This decline started when TerraUSD lost its peg to the US dollar two weeks ago. The fact that the values of the two tokens were tied to each other was also very effective in this case.
On Monday, Zhao urged the Terra team to repay retail investors first. According to estimates, the 45-year-old Binance founder has a net worth of approximately $14.8 billion. According to Forbes, most of Zhao’s wealth comes from his estimated 70 percent stake in Binance.
Everyone Thinks Differently About Luna
According to a study on social media, investors are divided into 2 about TerraLuna. After billions of dollars melted in the market after Luna’s dream, the money of many investors almost flew away.
However, according to Luna’s supporting part, it is stated that Luna needs to be rescued again after this disaster. However, many investors who lost large sums of money agree that those responsible for this incident should be prosecuted.
Luna’s current situation is not looking good at all. The promising developments regarding the Luna, which fell from hundreds of dollars to zero in a short time, are not at ground level.
Many users on Reddit and Twitter continue to argue with each other about Luna. How this process will progress is looking at the important steps Do Kwon will take. Maybe Luna, who upset her investors, can manage to make many people smile again.
Hello there! My name is Oktay from Tokensboss editors. I introduce myself as a business graduate and writer. I have been doing research on cryptocurrencies and new business lines for over 2 years.