Binance denies investing Terra apart from a $3m investment


On Sunday, Binance CEO and executive director Changpeng Zhao addressed a journalist’s tweet claiming that the exchange had backed Terra’s LUNA in 2019 and 2021. Since the collapse of its tokens this weekend, Zhao has been one of the most vocal critics of Terra’s team. A journalist suggested that these comments were motivated by Binance‘s investment in LUNA, and Zhao was said to be financially harmed by the project’s failure.

Binance denies investing in Terra`s second-round funding

In a now-deleted tweet, a journalist noted that CZ’s devotion to Terra’s continuing chaos is due to Binance’s investment in the Terra ecosystem. The journalist pointed out that the exchange was the lead investor in Terra’s 2019 seed round and its 2021 series. The journalist also said that the exchange had invested $300 million in Terra thus far.

Binance has established itself as a global leader in the cryptocurrency industry. Many crypto traders and economic experts have looked to the crypto exchange and its leadership for direction and guidance in the new and developing market. As a result, its statement on Terra’s demise is one that carries a lot of weight.