CEO of Binance Changpeng Zhao says that his company initially invested $3 million in the much-hyped Terra project in 2018. In return, Binance received around 50 million LUNA.
But in a recent Twitter post, he indicated that Binance ultimately lost $1.6 billion in its Terra investment.
CZ: 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.
