CZ Claims He Did Not Sell Holdings Before LUNA Crash, Once Refused to Cash Out $1.6 Billion in Profits, Currently Still Holds Some Related Tokens

Odaily News CZ, in "Binance Life," reflected on the Terra incident, stating that Binance invested approximately $3 million in Terra as early as 2018 and received LUNA tokens, with the book value soaring to around $1.6 billion before the crash.

He mentioned that before the sharp price fluctuations of LUNA in 2022, the team discussed whether to reduce holdings but ultimately decided against selling. On one hand, they were concerned that concentrated selling would exacerbate market panic; on the other hand, a large-scale exit would require considerable time to execute, and the market had already entered a rapid downturn phase at that time. Additionally, he expressed a desire to avoid the perception that the platform was "exiting ahead of retail investors." Currently, some related tokens are still held.