Luna The Panthera (LUNA)

Why didn't Binance sell LUNA during the Terra collapse?

CZ reveals that during the Terra breakdown in May 2022 Binance consciously did not sell its LUNA, even though the investment had previously been worth up to $1.6 billion.
The reason was the fear that such a sale would further deepen panic and accelerate declines with practically zero liquidity.
Additionally, executing a transaction of that size was technically very difficult and could have resulted in massive slippage. Binance also did not want to be perceived as an entity that “runs away” from retail investors.
It was a decision based not only on finance but also on responsibility for the market and reputation.

#KryptoEkipa #kryptowaluty #Bitcoin

CZ's memoir also reveals the “Exchange Collaboration” chat group, which was created at the height of the Terra-LUNA market turmoil and brings together many top exchange leaders.

Details: https://t.co/nBFTuZghCa https://t.co/8oFKBcZxqO

A $1.6B POSITION… AND THEY STILL DIDN’T SELL

In his autobiography, @cz_binance revealed how Binance handled the Terra crisis.

A $3M investment in $LUNA grew to $1.6B.

As the market started collapsing, the team considered reducing exposure.

They didn’t.

The reasoning was clear:

A large sell-off could have intensified panic in an already falling market.

And CZ didn’t want Binance to be seen as exiting before retail investors.