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‘I’m poor again’ along with this billionaire billions of money from investors immersed in cryptocurrencies

The founder of crypto exchange Binance, Changpeng Zhao, has made a shocking disclosure that his $1.6 billion investment in LUNA has fallen drastically, which is now worth just $2,500.

No one can tell when what will happen in a market like crypto. Here someone gets crores in a day and someone loses everything. In such a situation, during the last two weeks, now Tera USD’s sister token Luna has fallen so strongly that its value has almost become zero. This cryptocurrency, so far considered sustainable, has robbed its investors of billions of dollars.

Meanwhile, Changpeng Zhao, the founder of crypto exchange Binance, has made a shocking disclosure. Describing Zhao as a shocker, he openly declared that ‘I have gone poor again’. Zhou said that about one billion dollars have been sunk in the fall in LUNA. The founder of Binance tweeted about his loss, writing that ‘I am poor once again’. He tweeted an article of Fortune, whose caption was ‘Poor again’. There has been a huge decline in the global market, know from the experts, stay in international mutual funds or exit from them?

He added that his $1.6 billion investment in LUNA has fallen drastically, which is now worth just $2,500. In 2018, Binance received 15 million LUNA tokens in return for an investment of $3 million in the Terra network. In April this year, when Luna was at its peak, the value of his investments was $1.6 billion. However, Zhao did not sell the Luna tokens and when Luna is near zero the value of his tokens is around $2,200.

Significantly, Luna weakened 99 percent in the last one week and is trading at $ 0.0001416 with a fall of 18.6 percent. Considering Binance’s 15 million Luna token holdings and the current market price, the value of the holding is approximately $2,124. Data on Binance shows that Terra Luna has weakened by 99.15 percent over the past seven days. Its market cap is currently $ 924.99 million. In its heyday, the first week of April, Luna was priced at $119.18, its all-time high. After that its prices went down.

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.
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