cryptocurrency The markets have been in a serious decline lately. The decline of many cryptocurrencies, especially Bitcoin, had a significant impact on investors. However, the biggest agenda of the market was neither Bitcoin nor Ethereum. On Terra (LUNA) and UST The collapse was on the agenda of the whole world.

The terrible decline of LUNA and its stablecoin, UST, caused many investors to lose a lot of money. In the past few days we have shared with you that an important development has taken place on the LUNA front and that an investigation has been launched into this matter, which has caused billions of dollars in damage. As the effects of the global collapse continue, a statement is now coming from Binance.

Binance announced a $1.6 billion loss from Terra

CEO of Binance, the World’s Largest Cryptocurrency Exchange Nicknamed CZ Changpeng Zhao, spoke about Terra (LUNA) in an interview with Fortune. The famous CEO, transferring the company’s investments in this regard, also drew attention to the loss. Accordingly, Binance was launched in 2018 as part of Binance Labs. 3 million dollars made an investment.

In his statements, Zhao stated that after this investment, they have 50 million LUNA in a public and pristine cryptocurrency wallet. The billionaire stated that they could not monetize this investment and said the company has been there in the recent crisis. $1.6 billion he declared that he lost; but he stated that this is not a problem.

Binance has been on the agenda lately with question marks over Terra. Many wondered if the giant stock market had benefited from the crash and if Zhao had contacted Terra founder Do Kwon. In addition, other giant exchanges also recorded UST and LUNA, causing major disappointment among investors. overloaded with criticism was held.