Terra Luna Binance Holdings: Binance Never Sold Its 15 Million Luna, Now Worth Mere Thousands


Terra Luna Binance Holdings: Binance Never Sold Its 15 Million Luna, Now Worth Mere Thousands

Terra Luna Binance has a 15 million dollar holding. According to Binance's CEO, Luna never left the exchange's wallet, leaving the company with only $2360 in the coin following the Luna crypto meltdown.

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As talks about a possible Luna recovery continue, Binance CEO CZ revealed the company's Luna and UST holdings in an effort to be more open. It was worth $1.6 billion at its peak, he added, but "not much anymore."

Here's the latest from Binance's CEO, as one of the biggest exchanges to begin the Luna delistings.

Terra Luna Binance Holdings is down 99.9%.

Binance's Luna, like every other Luna holder, lost 99.9% of its value after the fall, which saw the Luna circulating supply rise to 6.5 trillion. Binance's 15 million Luna represented almost 4% of all Luna at the start of last week. This now accounts for only 0.000002% of all Luna.

Binance first obtained this Luna after making a $3 million investment in the initiative. Much of this is still dependent on the ecology.

CZ said on Twitter that Binance has "never traded or sold" either of its Luna or UST tokens.

He also stated that Binance aims to "lead by example in terms of user protection." To do this, the exchange will ask that remuneration from the Terra team be sent to "retail customers first [and] Binance last, if at all."

CZ also said that, after earlier discounting the necessity for a Luna fork, Binance favors prioritizing smaller wallets over whales in this process.

Following Luna's demise, CZ has been quite engaged in the talks surrounding it. He has also commented about Luna burns and minting coins since several spot pairs on Binance are set to be delisted by Luna. He had already expressed his dissatisfaction with the Terra team's handling of the collapse.

Luna has plunged 40% in the last 24 hours after a rather calm weekend in comparison to the crash. It is currently worth $0.00016. According to CoinMarketCap, the Binance LUNA/BUSD combination accounts for 65 percent of the overall Luna trading volume. 

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