Binance CEO Changpeng Zhao has said that the cryptocurrency exchange never sold its 15.4 million LUNA.
Binance received the 15.4 million LUNA in return for a $3 million investment made in the Terra ecosystem in 2018.
Binance’s holdings in the Terra blockchain’s governance token were at one point worth $1.6 billion.
Now it’s worth just $2,461, and still sitting in the wallet that it was sent to—”never moved or sold,” Zhao wrote in a tweet.
The wallet holds 3.4 million LUNA and has staked the rest.
The remaining 12 million TerraUSD (UST), Terra’s algorithmic stablecoin, was paid out as rewards from 8 million LUNA that Binance staked with Orion.Money and 4 million LUNA the firms staked with the Staked protocol. Both transactions took place on July 1, 2021.
At the time of writing, the chain has resumed and UST is trading at $0.10, according to CoinMarketCap, and the UST is worth $1.4 million.