Binance CEO CZ evaluated the past week by adding a new one to his statements about the Terra crisis. Responding to rumors swirling about Binance on social media, he said that Binance Labs has not invested in and does not hold UST.
Binance CEO CZ added a new one to his statements about the project, which was among the top 10 cryptocurrencies in volume before the crisis in Terra’s UST, which was supposed to be fixed at $ 1. In his statement, Binance’s investment unit Binance Labs‘s Terra investment and gave information about the crypto community.
“Last week was a turning point for the cryptocurrency community,” CZ said on his official Twitter account. of a large project with a serious position in the sector. We witnessed its rapid decline.” said.
“I have to answer the lies circulating on Twitter”
On Twitter, on allegations that Binance has invested $300 million in Terra, CZ:
“Binance did not participate in the 2nd round of Luna’s fundraising process and did not receive any UST in the process. He did not invest in and does not own UST. Investment made by Binance Labs to Terra in 2018 3 million dollarsis an investment. UST, on the other hand, is a project that emerged long after our investment.
Binance Labs in the last 4 years invested in hundreds of different projects. Some of these projects succeeded, while others did not. That is the nature of investing.” He expressed the approaches and details of their investments.
“My tweets are for supporting the Terra community”
Saying that he’s been working hard to support the Terra community lately, CZ said:
“I address my personal question marks in my tweets. Minting new coins does not add value to the fork. Re-buying and incineration creates value. Also, funds are not something that the project team can have. I expect more transparency from the team on this matter.
I hope the project and the team will be reborn from the ashes. Whatever solution is chosen and implemented for Terra, we will always strive to support the community.”