Changpeng Zhao, CEO of Binance said Crypto exchanges made huge profits from investing in Luna, but now they have lost almost all of them.
2/ Binance received 15,000,000 LUNA (at peak worth $1.6 billion USD, now not much) as part of the original ($3m) invest. 560x return at peak. It still sits on the address we received at . Never moved or sold.
Address:https://t.co/6HwTu6CCuB
— CZ
Binance (@cz_binance) May 16, 2022
Binance invested $3 million in the Terra ecosystem in 2018, acquiring 15 million Luna tokens, which at the highest price of Luna was $1.6 billion, according to Zhao.
But since the collapse of Luna last week and its associated stablecoin, TerraUSD (UST), the investment has dropped to just $3,400.
But that’s not all bad news, as Binance has also won an estimated $10.3 million UST (presumably through Anchor, which yields up to 20%).
Zhao added that Binance would like to see its retail customers be compensated.
refer : LINK
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