Binance's Investment in Terra LUNA is Denied by CZ

CZ Dismisses Reports That Binance Has Invested in Terra

On Thursday, Binance delisted LUNA perpetual contracts with a Bitcoin (BTC) margin.

CZ had already expressed his dissatisfaction with the Terra team's handling of the problem.

As the LUNA and UST drama proceeded to shake up the market, Binance CEO Changpeng Zhao (CZ) issued a warning on Twitter to "respect the market, with a degree of care."

Despite CZ's criticism, allegations circulated on Twitter last week that crypto exchange Binance was one of the major investors in the Terra LUNA ecosystem during the LUNA and UST crises.

CZ Is No Longer Associated With the LUNA Investment

Binance CEO CZ come forth to address the Terra rumors in order to clear Binance's reputation. "First, I need to confront misinformation floating in crypto Twitter," he stated on Twitter. Binance did not participate in Luna's second round of financing and did not purchase any UST. In 2018, Binance Labs invested $3 million in Terra (the layer 0 blockchain). After our first investment, UST arrived significantly later."

Binance Labs, according to CZ, has invested in a variety of crypto ventures over the previous four years. While some of these efforts have failed, others have been quite successful. CZ said, "That's how investments operate."