Binance's luna holdings drop from $1.6 billion to $2,200. Here's what's next for Zhao

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In January of 2022, we reported how Changpeng Zhao, known as “CZ” in the crypto world, the CEO of cryptocurrency exchange platform Binance. Find out more at 💵 Engineering

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Luna's valuation was very closely tied to its sister token TerraUSD. When the latter lost its peg to the US dollar two weeks ago, investors rushed to get rid of their holdings of that token, essentially dragging luna's price down with them. There is the possibility that the Terra team could reimburse its retail investors.

Binance is by far the largest cryptocurrency exchange in the world, facilitating as much trading as the next four largest exchanges combined. Furthermore, Zhao has his personal investments in Bitcoin and Binance's own coin, Binance Coin , making his net worth quite secure. As of Thursday, BloombergThe news does, however, illustrate how volatile cryptocurrencies can be and why investing in them should be done with caution.

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How what?

it's Billion to couple of thousands...☹️ Unimaginable...

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