Binance CEO CZ denied allegations that Binance invested $300 million in Terra.
Changpeng Zhao, CEO of leading crypto-asset trading platform Binance, has responded to The Block co-author Larry Cermak’s claim that Binance invested $300 million in Terra’s funding round. Cermak implied that CZ put so much emphasis on Terra because of this investment. In a tweet thread he shared on Twitter recently, CZ denied the investment, saying that Binance only invested $3 million in 2018. In his statement on the subject, he used the following statements:
“Binance did not participate in the 2nd phase of Luna’s funding round and did not receive any UST.
Binance Labs invested $3 million in Terra in 2018. UST came long after our initial investment.”
3/ Binance did not participate in the 2nd round of Luna’s fund raising nor did we acquire any UST.
Binance Labs invested $3m USD in Terra (the layer 0 blockchain) in 2018. UST came much later after our initial investment.
— CZ 🔶 Binance (@cz_binance) May 15, 2022
The disclosure comes after CZ commented that Terra’s forking scheme would not work.
