I admire how the CEO of Binance is making statements that they want to make the users who are affected be protected or reimbursed first or something to that sense. It's not just them, but I read a lot of tweets that concern Luna and them losing millions of their money to it. It's just that volatile, you know.
Algo-based stable coins are probably not yet ready to be here because they have just been left to die, but Luna may have a fighting chance with what the Team Terra is proposing. Imagine being the leader of this, and many people have probably lost their life savings because of this.
I'm not sure if it will still be able to recover from this, though.
Has anybody thought of buying Luna despite what's happening?
Topic: $1.6 billion dollars turned to $2,200 - The Luna effect on Binance Assets - page 3. (Read 397 times)
May 23, 2022, 03:41:18 AM
May 23, 2022, 02:02:01 AM
Not only him but also there are others billionaire who's fund trun into zero because of luna. Even there are lot of people including my friends who became rich by holding with big amounts of luna and those persons are lost everything now.
Its good to see Binance CEO, Zhao requested luna team for compensation but reality is, luna team will never give any compensation to anyone as luna is already scam. So don't hope again with this token and its better to move on
Its good to see Binance CEO, Zhao requested luna team for compensation but reality is, luna team will never give any compensation to anyone as luna is already scam. So don't hope again with this token and its better to move on
Yes many of them still hope for a repayment from Luna. I think it's very impossible with Luna's death, of course there is nothing more that we can hope for.
Hundreds of millions and even tens of millions of them were harmed by Luna in the blink of an eye, it was like a dream of Luna's project failure that made everyone confused by losing their funds.
May 23, 2022, 01:33:02 AM
FYI if basically the real amounts of investment that already lost was around 3 millions USD. 1.6 billions were unrealized profit that already gained by binance but this company didn't wanna to cash out it.
Another platform like stable gain has been declaring to bankrupt and it was also facing so many legal actions from its investors.
There are so many parties starting to confirm about how much they have been loosing due to the terra luna failed project. Binance was the biggest exchange site and im sure that 3 millions UST meant nothing for binance.
Another platform like stable gain has been declaring to bankrupt and it was also facing so many legal actions from its investors.
There are so many parties starting to confirm about how much they have been loosing due to the terra luna failed project. Binance was the biggest exchange site and im sure that 3 millions UST meant nothing for binance.
May 23, 2022, 12:06:39 AM
Not only him but also there are others billionaire who's fund trun into zero because of luna. Even there are lot of people including my friends who became rich by holding with big amounts of luna and those persons are lost everything now.
Its good to see Binance CEO, Zhao requested luna team for compensation but reality is, luna team will never give any compensation to anyone as luna is already scam. So don't hope again with this token and its better to move on
Its good to see Binance CEO, Zhao requested luna team for compensation but reality is, luna team will never give any compensation to anyone as luna is already scam. So don't hope again with this token and its better to move on
May 22, 2022, 11:08:41 PM
It’s breath taking to see how Binance the worlds most popular crypto exchange had to suffer losses not in millions but billions of dollars!
Binance had an address where at the peak price Luna were sent adding up 15 million LUNA on binance. These were around 1.6 billion dollar worth before the month Luna dropped to almost cents.
Binance CEO, Zhao however still not worried much considering his net worth still stands at around $14 billion.
In his tweet, he shares funny meme and says “Poor again”, with picture of terrified guy. Lolz.
I am not sure how Terra will help Binance, but CEO Zhao requested the project team to compensate the Binance users for this down turn.
Binance had an address where at the peak price Luna were sent adding up 15 million LUNA on binance. These were around 1.6 billion dollar worth before the month Luna dropped to almost cents.
Binance CEO, Zhao however still not worried much considering his net worth still stands at around $14 billion.
In his tweet, he shares funny meme and says “Poor again”, with picture of terrified guy. Lolz.
I am not sure how Terra will help Binance, but CEO Zhao requested the project team to compensate the Binance users for this down turn.
Quote
Changpeng Zhao, the founder of cryptocurrency exchange Binance, tweeted a few days ago that he was “poor again” after losing billions of dollars in cryptocurrency following a market crash, which wiped out the fortunes of many investors. The exchange's assets in the cryptocurrency Luna fell to just $2,200 from $1.6 billion, at the token's peak price, a month before. In a tweet, Zhao claimed that Binance held 15 million Luna tokens, which the exchange had obtained in exchange for a $3 million investment in the Terra network, which Luna is founded on. The Luna tokens were “never moved or sold,” he added.
Luna's fall began when TerraUSD, its sister coin, lost its peg to the US dollar. The two tokens' prices are linked. When the price of TerraUSD dropped, investors raced to sell their holdings. The price of Luna was pulled down by the drop in TerraUSD.
Despite the crash and the fall in the price of Luna, Zhao has a net worth of around $14.9 billion, as of Sunday, according to Bloomberg. His estimated 70 percent stake in Binance accounts for the majority of his wealth, stated a Forbes report.
In another tweet, Zhao urged the Terra team to make reimbursing its retail investors top priority. He wrote, “To lead by example on protecting users, Binance will let this go and ask the Terra project team to compensate the retails users first, Binance last, if ever.”
Terra Luna has dropped 99.15 percent in the last few days, according to Binance data. It has a market cap of $924.99 million.
Daniel Shin and Do Kwon founded Terra Luna, a blockchain technology that uses fiat-pegged stablecoins, in January 2018. The token was first made accessible to investors in a private token sale in August 2018, raising a huge $32 million from investors including Binance, OKEx, and Huobi.
Zhao founded Binance, which has grown to become the world's largest cryptocurrency exchange by daily trading volumes. Binance's daily average volume is over two billion, with over 14 lakh transactions per second. It provides cryptocurrency trading help 24 hours a day, 7 days a week.
Luna's fall began when TerraUSD, its sister coin, lost its peg to the US dollar. The two tokens' prices are linked. When the price of TerraUSD dropped, investors raced to sell their holdings. The price of Luna was pulled down by the drop in TerraUSD.
Despite the crash and the fall in the price of Luna, Zhao has a net worth of around $14.9 billion, as of Sunday, according to Bloomberg. His estimated 70 percent stake in Binance accounts for the majority of his wealth, stated a Forbes report.
In another tweet, Zhao urged the Terra team to make reimbursing its retail investors top priority. He wrote, “To lead by example on protecting users, Binance will let this go and ask the Terra project team to compensate the retails users first, Binance last, if ever.”
Terra Luna has dropped 99.15 percent in the last few days, according to Binance data. It has a market cap of $924.99 million.
Daniel Shin and Do Kwon founded Terra Luna, a blockchain technology that uses fiat-pegged stablecoins, in January 2018. The token was first made accessible to investors in a private token sale in August 2018, raising a huge $32 million from investors including Binance, OKEx, and Huobi.
Zhao founded Binance, which has grown to become the world's largest cryptocurrency exchange by daily trading volumes. Binance's daily average volume is over two billion, with over 14 lakh transactions per second. It provides cryptocurrency trading help 24 hours a day, 7 days a week.
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