Zhao Changpeng: Binance invested $3 million in Terra, which was worth $1.6 billion at its peak but has never been transferred or sold

ChainCatcher news, Binance founder Changpeng Zhao released an open letter on the sixth anniversary today, in which he stated that Binance invested in Terra in 2018 but never actively managed this investment. When issues began to arise in 2022, the team asked Zhao whether they should sell the tokens, but Zhao believed they should not sell.

As a result, although the initial $3 million investment in 2018 peaked at $1.6 billion in 2021, it also plummeted to nearly $0 during the collapse in 2022. To this day, the LUNA (now LUNC) tokens that Binance received back then remain in the original address they were received at, never moved or sold.