{"id":37237,"date":"2022-06-05T04:06:00","date_gmt":"2022-06-05T04:06:00","guid":{"rendered":"https:\/\/harchi90.com\/binance-ceo-reveals-1-6-billion-loss-in-terra-investments\/"},"modified":"2022-06-05T04:06:00","modified_gmt":"2022-06-05T04:06:00","slug":"binance-ceo-reveals-1-6-billion-loss-in-terra-investments","status":"publish","type":"post","link":"https:\/\/harchi90.com\/binance-ceo-reveals-1-6-billion-loss-in-terra-investments\/","title":{"rendered":"Binance CEO Reveals $ 1.6 Billion Loss in Terra Investments"},"content":{"rendered":"
Original Terra ecosystem’s implosion sent shockwaves through crypto world<\/p>\n<\/div>\n<\/div>\n
Changpeng Zhao, CEO of Binance, has disclosed that the company invested in Terra as part of a Binance Labs investment in 2018, worth $ 3 million at the time.<\/p>\n
In a recent interview with Fortune, the Binance CEO stated that he received some LUNA coins in return, which were kept in a cryptocurrency wallet address made public and left untouched, at around 50 million LUNA.<\/p>\n
\nCZ: We invested in Terra as a part of a Binance Labs investment in 2018, and that was a $ 3 million investment. We just kept the coins that we got, 50 million Luna. Theoretically we lost like $ 1.6 billion of investment at the top, and it’s okay.<\/p>\n