Binance Promoted Terra as 'Safe' Investment Before $40 Billion Collapse

Binance promoted terraUSD as a "safe" investment just weeks before the stablecoin and its counterpart luna collapsed in a $40bn wipeout that shook the crypto industry. From a report: The world's biggest crypto exchange advertised on April 6 an investment scheme in which clients lend out their terra to earn a yield of almost 20 per cent as a "safe and happy" opportunity, according to a message Binance sent on its official channel on the Telegram messaging app. Terra and luna, a set of linked digital tokens, were popular with crypto traders seeking to earn high returns through lending programmes known as "staking," but lost nearly all of their value earlier this month in one of the crypto industry's biggest-ever crashes.

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