After the collapse of Terra’s stablecoin UST, all eyes turned to the cryptocurrency ecosystem.
Stating that the collapse in UST and Luna will be an important turning point for the crypto money ecosystem in his statements yesterday, Binance CEO Cz also spoke about UST today.
Clarifying the questions of whether they currently have any USTs, the CEO said that they have USTs due to transaction fees, but their value is now close to zero.
“After reading some of the comments on Twitter, I realized I didn’t ask if Binance had any UST.
For security reasons, I cannot access some information without asking the admins.
I asked now.
We have some UST, probably due to commission fees from transactions, and now its value is close to zero. This was not something I had in mind. Our priority is our users.”
Underlining that the rumors are not over, the CEO finally stated that Binance did not buy UST.
Answering an investor’s question what advice you can give to investors about Luna and UST, Cz said:
“What was clear to me was this;
High APY = high risk
New money = high risk
Don’t put all your eggs in one basket. Diversify.”
*Not Investment Advice.