Changpeng Zhao (CZ) revealed how much LUNA and UST Binance is holding. Yesterday, he denied rumors of a $300 million investment. The CEO of the world’s largest exchange reversed course on Monday to clarify how much LUNA and UST he is holding.
Binance CEO reveals how much LUNA and UST he is holding
Last week, Ethereum founder Vitalik Buterin received suggestions and criticism about the Terra collapse from FTX CEO SamBankman-Fried. CZ addressed the Terra team’s faults with multiple explanations. Around the same time, claims that Binance had invested $300 million in LUNA were spreading on Twitter. Bringing clarity to the subject, CZ made the following statements. However, his latest statements contradict previous ones. He said on May 16 that Binance has 3 million LUNA and 10 million UST.
10 million UST by exchange produced and earned through their activities. At its peak, Binance was holding around $1.6 billion on LUNA and $12 million on UST. Additionally, CZ said that Binance will now force Terra to pay back its smallest investors, a move that the Luna Foundation Guard says it plans to make. Your LFG official Twitter account confirmed this.
Binance’s huge loss
Terra LUNA The gradual collapse of ‘s starting at $ 80 led to millions of dollars of advice, and unaware investors continued to buy during the hours when it was trading below $ 4. Almost all exchanges, including Binance, stopped transactions to avoid further victimization. Meanwhile, more than half of Terra’s investors were at a loss. One of the biggest losers was the Binance exchange. According to CZ’s statements, Binance had 15 million LUNA investments in 2018 for $3 million. Independent of this market, LUNA peaked at $120 last April, while the exchange’s LUNA wallet reached $1.6 billion.
CEO Zhao says this fund has now dropped to $3,400. Binance’s 12 million UST from staking rewards has now dropped to around $960,000.
As we have reported as Kriptokoin.com, exactly how much BTC has been sold by Luna Foundation Guard has been announced.
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