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Binance Denies Participation in Terra’s Second Investment Round; Says It Invested $3 Million in 2018

Binance Denies Participation in Terra’s Second Investment Round; Says It Invested $3 Million in 2018
On Sunday, Binance founder and executive Changpeng Zhao responded to a journalist’s tweet that insinuated that the exchange had invested in Terra’s LUNA back in 2019 and 2021.



In a now deleted tweet by The Block’s Larry Cermak, the journalist stated:



“Easy to see why CZ is tweeting so passionately about LUNA. Binance led Terra’s seed round in 2019 and Terra’s 2021 round. In the last one that ended just like six months ago, they invested $300M with a 4y vest and 1y cliff (same amount as Jump).”



However, Zhao replied, claiming that The Block’s VP of Research got his facts wrong, and that Binance only invested $3 million into Terra’s Layer-0 blockchain back in 2018:



“Binance did not participate in the 2nd round of Luna’s fundraising nor did we acquire any UST. Binance Labs invested $3m USD in Terra (the layer 0 blockchain) in 2018. UST came much later after our initial investment,” he tweeted.



Zhao has been one of the most vocal critics of the Terra team since the crash of its tokens this weekend. Cermak implied that these criticisms were because Binance invested in LUNA, and Zhao was financially affected by the project’s failure.




1/8 These past weeks have proven to be a watershed moment for the crypto industry. We have witnessed the rapid decline of a major project, which sent ripples across the industry, but also a new found resiliency in the market that did not exist during the last market downswing. — CZ 
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