{"id":27367,"date":"2022-05-19T11:00:27","date_gmt":"2022-05-19T15:00:27","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=27367"},"modified":"2024-07-28T07:39:03","modified_gmt":"2024-07-28T11:39:03","slug":"chanpeng-zhao-says-he-is-poor-again-following-luna-crash","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/chanpeng-zhao-says-he-is-poor-again-following-luna-crash\/","title":{"rendered":"Chanpeng Zhao Says He Is Poor Again Following LUNA Crash"},"content":{"rendered":"\n<p><a href=\"https:\/\/coinscreed.com\/staging\/binance-ceo-cz-sets-to-support-terra-community.html\">Binance<\/a> CEO Chanpeng Zhao jokingly tweeted that he was poor again following the devastating crash of the LUNA<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"538\" src=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/11\/Binance-CEO-becomes-the-richest-person-of-Chinese-origin-with-total-assets-of-up-to-90-billion-1024x538.jpeg\" alt=\"Chanpeng Zhao Says He Is Poor Again Following LUNA Crash\" class=\"wp-image-14328\" srcset=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/11\/Binance-CEO-becomes-the-richest-person-of-Chinese-origin-with-total-assets-of-up-to-90-billion-1024x538.jpeg 1024w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/11\/Binance-CEO-becomes-the-richest-person-of-Chinese-origin-with-total-assets-of-up-to-90-billion-300x158.jpeg 300w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/11\/Binance-CEO-becomes-the-richest-person-of-Chinese-origin-with-total-assets-of-up-to-90-billion-768x403.jpeg 768w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/11\/Binance-CEO-becomes-the-richest-person-of-Chinese-origin-with-total-assets-of-up-to-90-billion-750x394.jpeg 750w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/11\/Binance-CEO-becomes-the-richest-person-of-Chinese-origin-with-total-assets-of-up-to-90-billion-1140x599.jpeg 1140w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/11\/Binance-CEO-becomes-the-richest-person-of-Chinese-origin-with-total-assets-of-up-to-90-billion.jpeg 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption>Zhao Says He Is Poor Again Following LUNA Crash<\/figcaption><\/figure>\n\n\n\n<div class=\"wp-block-rank-math-toc-block\"><ul><li><a href=\"#h-chanpeng-zhao-poor-again-binance-has-15-million-luna-tokens\" >Chanpeng Zhao Poor Again, Binance Has 15 Million LUNA Tokens<\/a><\/li><li><a href=\"#h-fear-and-greed-index-indicates-extreme-fear\" >Fear And Greed Index Indicates Extreme Fear<\/a><\/li><\/nav><\/ul><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-chanpeng-zhao-poor-again-binance-has-15-million-luna-tokens\">Chanpeng Zhao Poor Again, Binance Has 15 Million LUNA Tokens<\/h2>\n\n\n\n<p>Chanpeng Zhao, the founder of <a href=\"https:\/\/coinscreed.com\/staging\/how-to-create-nfts-on-binance.html\">Binance<\/a> joked that he is &#8220;poor again&#8221; after losing billions of dollars worth of cryptocurrency when the market crashed.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"embed-twitter\"><blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Poor again.<a href=\"https:\/\/t.co\/88v2U2vjfM\" target=\"_blank\">https:\/\/t.co\/88v2U2vjfM<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><g id=\"wpil-svg-outbound-7-icon-path\" fill=\"none\" clip-path=\"url(#clip0_31_188)\">\r\n                            <path d=\"M9.16724 14.8891L20.1672 3.88908\" stroke-linecap=\"round\"\/>\r\n                            <path d=\"M13.4497 3.53554L20.5208 3.53554L20.5208 10.6066\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/>\r\n                            <path d=\"M17.5 13.5L17.5 16.26C17.5 17.4179 17.5 17.9968 17.2675 18.4359C17.0799 18.7902 16.7902 19.0799 16.4359 19.2675C15.9968 19.5 15.4179 19.5 14.26 19.5L7.74 19.5C6.58213 19.5 6.0032 19.5 5.56414 19.2675C5.20983 19.0799 4.92007 18.7902 4.73247 18.4359C4.5 17.9968 4.5 17.4179 4.5 16.26L4.5 9.74C4.5 8.58213 4.5 8.0032 4.73247 7.56414C4.92007 7.20983 5.20982 6.92007 5.56414 6.73247C6.0032 6.5 6.58213 6.5 7.74 6.5L11 6.5\" stroke-linecap=\"round\"\/>\r\n                        <\/g>\r\n                        <defs>\r\n                            <clipPath id=\"clip0_31_188\">\r\n                                <rect fill=\"white\" height=\"24\" width=\"24\"\/>\r\n                            <\/clipPath>\r\n                        <\/defs><\/svg><\/span><\/a><\/p>&mdash; CZ \ud83d\udd36 BNB (@cz_binance) <a href=\"https:\/\/twitter.com\/cz_binance\/status\/1526410849954541568?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">May 17, 2022<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><use href=\"#wpil-svg-outbound-7-icon-path\"><\/use><\/svg><\/span><\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/div>\n<\/div><\/figure>\n\n\n\n<p>In a tweet on Monday, the Binance founder revealed that his company had 15 million <a href=\"https:\/\/coinscreed.com\/staging\/terra-fork-voting-spikes-luna-ust-volatility.html\">LUNA<\/a> tokens. <\/p>\n\n\n\n<p>The price of the Terra (LUNA) cryptocurrency dropped by more than 99 percent in the past week, wiping out the fortunes of crypto investors.<\/p>\n\n\n\n<p>Binance got the tokens in exchange for putting $3 million into Terra in 2018, which is the network that Luna is built on.<\/p>\n\n\n\n<p>But Mr. Zhao still has a net worth of about $14.8 billion, which comes from his 70% share of Binance.<\/p>\n\n\n\n<p>The price of TerrraUSD also went down a lot, just like Luna. Both <a href=\"https:\/\/coinscreed.com\/staging\/bitcoin-price-falls-below-29000.html\">Bitcoin<\/a> and Ethereum (ETH) kept trading near their 18-month lows.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-fear-and-greed-index-indicates-extreme-fear\">Fear And Greed Index Indicates Extreme Fear<\/h2>\n\n\n\n<p>The<a href=\"https:\/\/coinscreed.com\/staging\/crypto-fear-greed-index-hits-lowest-level-since-march-2020.html\"> Crypto Fear & Greed Index<\/a> was at its lowest level since March 2020, when fear of a pandemic caused a sell-off that drove the price of bitcoin below $5,000.<\/p>\n\n\n\n<p>But as of Thursday, the price of Bitcoin is just below $30,000. This is a 56% drop from its all-time high in November.<\/p>\n\n\n\n<p>Mr. Zhao had asked the Terra team to pay back retail investors first. &#8220;To lead by example on PROTECTING USERS, Binance will let this go and ask the Terra project team to compensate the retail users first, Binance last, if ever,&#8221; he\u00a0<a href=\"https:\/\/twitter.com\/cz_binance\/status\/1526129841376043008\" target=\"_blank\" rel=\"noreferrer noopener\">tweeted<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><use href=\"#wpil-svg-outbound-7-icon-path\"><\/use><\/svg><\/span><\/a>.<\/p>\n\n\n\n<p>Some people think that someone dumped $350 million worth of <a href=\"https:\/\/coinscreed.com\/staging\/heres-how-terras-ust-drives-a-20-drop-in-defi-token-curve-crv.html\">UST<\/a> on purpose to make TerraUSD lose its value. This is one of the most popular conspiracy theories.<\/p>\n\n\n\n<p>By doing this, the <a href=\"https:\/\/coinscreed.com\/staging\/luna-foundation-guard-seeks-more-than-1-billion-in-funding-to-save-ust.html\">Luna Foundation Guard<\/a>, which had saved up about $3.5 billion in bitcoin and other forms of cryptocurrency in the months before the crisis, would be forced to sell its bitcoin. <\/p>\n\n\n\n<p>This would cause the price of bitcoin to fall, which could make it possible for people to take short positions on bitcoin.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance CEO Chanpeng Zhao jokingly tweeted that he was poor again following the devastating crash of the LUNA Chanpeng Zhao Poor Again, Binance Has 15 Million LUNA Tokens Chanpeng Zhao, the founder of Binance joked that he is &#8220;poor again&#8221; after losing billions of dollars worth of cryptocurrency when the market crashed. In a tweet [&hellip;]<\/p>\n","protected":false},"author":29,"featured_media":14328,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[834],"tags":[9478],"class_list":["post-27367","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-binance","tag-binance-news"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/11\/Binance-CEO-becomes-the-richest-person-of-Chinese-origin-with-total-assets-of-up-to-90-billion.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/27367","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=27367"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/27367\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/14328"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=27367"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=27367"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=27367"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}