Wednesday, November 30, 2022
HomeCryptocurrencyCZ Confirms that Binance Has Not Sold Its Terra Classic (LUNC): Details

CZ Confirms that Binance Has Not Sold Its Terra Classic (LUNC): Details

Changpeng Zhao (CZ), the CEO of Binance, the world’s largest crypto exchange by trading volume, has recently confirmed that the exchange is still holding the imploded blockchain’s native token, Terra Classic (LUNC).

Binance CEO said this in a thread of tweets on the 7th of November after announcing the exchange’s decision to liquidate its FTT tokens.

Read Also: Terra Classic Sees Huge Gain As Binance Prepares to Announce Number of LUNC Burned So Far

In the tweet where Binance’s decision was announced, CZ stated that the exchange is not against anyone, but it won’t also support people, such as FTX exchange, who secretly lobby against other industry players for personal gains.

CZ Binance tweeted, “Liquidating our FTT is just post-exit risk management, learning from LUNA. We gave support before, but we won’t pretend to make love after divorce. We are not against anyone. But we won’t support people who lobby against other industry players behind their backs. Onwards.”

Binance Still Holds Terra Classic (LUNC)

In a thread of tweets following the FTT liquidation announcement, a crypto enthusiast asked CZ, “Do you plan on taking Alameda up on their offer to close the position OTC to avoid further market impact?”

In response, Binance CEO asked if Alameda has bought or is ready to buy $580 million worth of Binance Coin (BNB).

Judging by CZ’s response, the user concluded that Binance is ready to trade BNB for FTT with Alameda.

In a swift response, Zhao said he was only asking a question, not a commitment, adding that Binance has nothing against anyone. He stated that this is why the exchange is still holding Terra Classic (LUNC) today.

Read Also: Binance Reduces LUNC Burn Tax from 1.2% to 0.2% to Support Newly Passed Terra Classic Proposal

CZ wrote, “I didn’t say that. It was a question, not a commitment. I think we will stay in the free market. We still hold LUNA (now LUNC) today.”

<

Recall that Zhao and his crypto exchange Binance have done so much to help the Terra Classic community make its LUNC dream recovery a reality.

So far, Binance as an entity has the biggest contribution to the ongoing LUNC burn initiative. And it’s obvious that the exchange is ready to further help the community within its capacity.


Follow us on Twitter, Facebook, Telegram, and Google News

Tobi Loba
Tobi Loba
Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.
RELATED ARTICLES

Latest News & Articles

Recent Comments