Word’s biggest crypto exchange owner turns ‘pauper’ after 100% crash in Terra Luna
Zhao, who is a Chinese-Candian business executive, spent his early days of childhood in China's rural village after his father was banished from a bigger city.
New Delhi: Word’s biggest Crypto exchange Binance CEO Changpeng Zhao is again in the headline for one of his tweets. His tweet is related to the crash of Terra Luna crashed. In his tweet, CZ wrote ”poor again”.
Earlier, he was in the news for being featured on the cover page of Fortune Magazine. He was included among the world’s richest people and his worth was estimated to be $300 billion. To which, the 44-year-old fonder replied, ”Really not that rich, but honored to be featured on the cover.”
In the latest tweet, he tagged a story of fortune, claiming Binance’s Luna investment decreased to $3,000 from $1.6 billion.
According to reports, Billionaire Zhao had purchased 15 million luna tokens in exchange for its $3 million investment, made in 2018.
However, CEO Zhao may pretend to be poor but he has a net worth of $15.3 billion as per the Bloomberg Billionaire Index after losing a major chunk of his worth $80.6 billion this year.
Zhao, who is a Chinese-Candian business executive, spent his early days of childhood in China’s rural village after his father was banished from a bigger city. He studied software development in Canada and also spent years working in Tokyo and New York. In 2017, he left his job to start Binance in 2017.
For those who are unaware of Terra, we must tell you that Terra is currently trading at $0.00011258. Around 14 days ago, LUNA tanked to 100%, losing all the wealth of the investors.
According to the cryptocurrency data aggregator Coingecko, Luna has been trading in red for the last year. On May 13, the Terra had an all-time low of $0.000000999967 on May 13, 2022.