Binance's LUNA Investment, Which Peaked at $1.6 Billion, Now Worth Just $3,000

Binance CEO Changpeng Zhao said the crypto exchange made large paper gains on its investment in Luna but has now lost practically all of them. From a report: The exchange invested $3 million into the Terra ecosystem in 2018, receiving 15 million Luna tokens. At Luna's peak price, that investment was worth $1.6 billion, according to Zhao. Yet due to last week's collapse of Luna -- and its related stablecoin TerraUSD (UST) -- that investment has now plummeted in value to just $3,400. Or, in Zhao's words, "not much." Yet it's not all bad news. The exchange received around $10.3 million worth of UST in staking rewards (likely through Anchor, which offered up to 20% yield).

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