Binance founder and CEO Changpeng Zhao responded to a journalist’s tweet implying that the exchange invested in Terra back in 2019 and 2021.
An already deleted tweet by The Block journalist Larry Cermak stated the following:
“It’s easy to see why CZ is tweeting so passionately about LUNA. Binance led the syd round for Terra in 2019 and in 2021. The latter ended exactly six months ago, they invested $300 million.”
However, Zhao said that The Block reporter misinterpreted the facts and that Binance only invested $3 million in Terra in 2018.
“Binance did not participate in Luna’s second round of fundraising, and we did not acquire UST. Binance Labs invested $3 million in Terra in 2018. UST came much later than our original investment,” he wrote.
Earlier, Zhao criticized the Terra team and asked where the company’s bitcoin reserves disappeared to.