Binance CEO Says LUNA Collapse Left Him 'Poor Again'

Emma Newbery, The Motley Fool

May 21, 2022 at 11:21 a.m.·5 min read

Binance CEO Says LUNA Collapse Left Him 'Poor Again'

The collapse of Terra's LUNA and TerraUSD (UST) cost investors over $40 billion and shocked many in the industry. For example, Galaxy Digital CEO Mike Novogratz, who was so enamored with Terra he got a LUNA wolf tattoo, told shareholders, "My tattoo will be a constant reminder that venture investing requires humility." Binance CEO Changpeng Zhao (also known as CZ) said the company had 15 million LUNA, which was worth $1.6 billion at the token's peak.

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