$1.6 billion dollars turned to $2,200 - The Luna effect on Binance Assets

[Tony116]

Not only him but also there are others billionaire who's fund trun into zero because of luna. Even there are lot of people including my friends who became rich by holding with big amounts of luna and those persons are lost everything now.
Its good to see Binance CEO, Zhao requested luna team for compensation but reality is, luna team will never give any compensation to anyone as luna is already scam. So don't hope again with this token and its better to move on

Zhao and Vitalik suggested to the Luna team to compensate retail investors first instead of compensating funds, but I also think they will never do. Luna is the biggest scam project in the crypto industry and should stop hoping for its return and they will compensate us. The Korean government is said to be looking into the collapse of Luna, which caused billions of dollars in losses for investors and I hope Dokwon will be summoned to the court soon to explain the case.

Not only Binance but also other venture capital funds such as Three Arrows Capital, Galaxy Digital and Pantera Capital also confirmed huge investments in Luna and most of them suffered heavy losses due to Luna.

[Anonylz]

I was actually shocked to hear that from cz, that was a huge amount of money that went under the bridge. This luna incident really affects many investors, retailers, whales and even exchange like binance. I know binance is a big exchange and may not feel the impact of this loss but am sad for the retailers and small investors who had their life savings on luna, i think for their sake, Do kwon needs to do something to save luna so that investors can recover their loss.

[crwth]

I've never touched LUNA so far especially after what happened not interested in entering their market and what happened to luna gave a lesson that crypto is very risky so you have to understand each risk well

This would be a decision that would make or break you in terms of how much you are willing to risk and that you will believe that Luna will and can recover from the current happenings. We all know that UST has been left for dead and wouldn't come back but for Luna, it might be a different story. This is why I'm wondering if anyone would see how risky and might be profitable in the coming year Luna can be if it recovered or something.

will not buy back luna , i have sold my luna when the value fell 30% of my initial capital at least i didn't lose too much
I'm grateful I'm not like my other friends they haven't had time to sell their Luna

At least you have cut your losses earlier. It seems that would be just hours before it all came crashing down, right? I'm pretty sad for the people who have lost 99% of their investment in Luna. That's just terrible.

This is just too much and I hope the people who have invested could recover from this. Imagine liquidating most of your assets to recover. I think this is one of the reasons why the market is down for a while. It's just a discounted price so maybe getting Luna is not bad? lol. ^{This is not financial advice}

[JeffBrad12]

The small investors of luna will be so hard to accept this but based on what happened and they are loosing their money and the will never able to recover it. As far as i know that if CZ was loosing only small amounts of money but compared with the small investors which have been loosing their life and what already happened with binance was nothing. UST holders got nothing and these holders are abandoned. Do kwon think that if ust is not useful anymore. It was choosing to reimburse the UST hodlers through distributing the new token.
It's very sad to see that but in this case UST holders are loosing everything.

[masulum]

This is just too much and I hope the people who have invested could recover from this. Imagine liquidating most of your assets to recover. I think this is one of the reasons why the market is down for a while. It's just a discounted price so maybe getting Luna is not bad? lol. ^{This is not financial advice}

After all, LUNA is a story, they instantly made people from millionaires into moneyless people, however, LUNA has also created new millionaires, this happen again for people who managed to buy at the price of 0.0000012 a few days ago, and then pumping happens to 0.0005, this is an important lesson for all of us to always pay attention to potential dumps.

If we are just a trader, it would be very good if we always set a stop loss. Thus, we can at least save some of our money. However, sometimes people think of buying back, and when they do not pay attention to market conditions, they have to cut losses again.

Now, LUNA holders must think well, lost money can be found with other invested money in the future, lest the case of 8 people who committed suicide because of LUNA doesn't happen again. I thought that the 2017 case would not be repeated, but LUNA made this dark history happen again. Hopefully this is the end, in the next bear market, no one will give up their lives because their assets go down after investing in crypto.

[Mame89]

It's likely that the Terra foundation has given a huge chunk of Luna as they've became listed to Binance. CZ didn't saw that coming when the price plummets so fast and he probably thought that it will recover.

But looking at the perspective and recovery plan of Luna and UST, there's no hope as he said it from his mouth. Yeah, he might be poor again as a meme but he's still a billionaire.

I hope LUNA can recover in time no one will know not for now. I feel sorry for CZ, even though he is a rich person with a lot of money, but he has sacrificed his life in the crypto world, known to many people. if she felt relaxed in yesterday's circumstances, I think there might be a private conversation between CZ and the founder of LUNA, if for example LUNA can recover gradually why can CZ relax

[bitkanu]

This is truly disaster not only binance alone that has suffered lose, I mean we know binance could lost billions and just shrug it under the rugs but most of the individual victims that has lost their lifetime saving are definitely having bigger impact in their life just for foolish mistake that LUNA had making it really disastrous.
and even some stated that binance's lose is just some unrealized profit meanwhile there are plenty of people out there using their lifetime saving thinking that LUNA is like safe haven where they could still invests and avoid volatility like shitcoin since it's among the major altcoins and turns out that was all a mistake.

[Jackl87]

It’s breath taking to see how Binance the worlds most popular crypto exchange had to suffer losses not in millions but billions of dollars!
Binance had an address where at the peak price Luna were sent adding up 15 million LUNA on binance. These were around 1.6 billion dollar worth before the month Luna dropped to almost cents.
Binance CEO, Zhao however still not worried much considering his net worth still stands at around $14 billion. 

That is definitely a huge loss. 1,6 billion USD becoming only 2,200 USD means that the investmenst is now only worth 1/727272 of it's current value which is absolutely insane and frightening to be honest. I don't really know what to think about the tweet of CZ though. He kinda makes fun of his loss while at the same time a lot of people have lost their life savings due to the crash of Luna which is absolutely sad and terrible. Those people of course have not lost 1,6 Billion but maybe only 1600 USD but for them those relatively little amounts of money are way more important for them than those 1,6 billion USD to CZ.

[dunfida]

Well, lets just stick into that golden rule

"Invest on what you can afford to lose"
It is really just too big for such loss even CZ do said on being poor.There's no exemption about crypto investment risk even with the owner of top exchange platform
but still considering those numbers he's still a billionaire and pretty much sure that he had been accepting it easily and make that "Poor again" word
which shows some acceptance.

[wxa7115]

Not only him but also there are others billionaire who's fund trun into zero because of luna. Even there are lot of people including my friends who became rich by holding with big amounts of luna and those persons are lost everything now.
Its good to see Binance CEO, Zhao requested luna team for compensation but reality is, luna team will never give any compensation to anyone as luna is already scam. So don't hope again with this token and its better to move on

I am really sorry for all of those that were caught in this nonsense as it was clear that the model of luna was impossible to sustain long term, it is because of this that we always recommend to newbies and other people interested in those coins to not take the risk regardless of how tempting the offer could be and how fast the price of such an asset was going up.

Because this is the kind of crash that you can experience with those coins, one day you think you have the potential of making millions and the next you are completely ruined, and since you do not know what could cause such a drop you are basically playing Russian Roulette with your money and sooner or later you will have to face those gigantic losses from which it is impossible to recover.

[PrivacyG]

Millions turned into billions turned into thousands.  More accurate that way.

This is just paper loss.  The invested amount is much less than that and just because LUNA skyrocketed and then fatally crashed does not make it a loss.  If that was the case, I 'lost' a TON of money over the years.

Anyway.  Had this man held all his eggs in the LUNA basket, he would have been absolutely wrecked.  Imagine your volatile net worth is $1.6 billion and all of a sudden it is less than a month's salary of some people.

-
Regards,
PrivacyG

[Imran232]

............

Luna is like a lesson for us. But I took two lessons from Luna. One is that we shouldn't keep all our funds in 1. Like there is a proverb, don't keep all your eggs in one bucket. If that one bucket falls, your entire egg will be lost. This is the best example of this proverb. Second, regardless of how large the project is, you always keep us up to date on its progress and work so that we can understand its next possible destination. Though this is also just speculation. I hope you understand. This is just my opinion. Others' opinions might be different.

[NewRanger]

I was actually shocked to hear that from cz, that was a huge amount of money that went under the bridge. This luna incident really affects many investors, retailers, whales and even exchange like binance. I know binance is a big exchange and may not feel the impact of this loss but am sad for the retailers and small investors who had their life savings on luna, i think for their sake, Do kwon needs to do something to save luna so that investors can recover their loss.

i am believe CZ angry with this condition now, 1.6 billions was huge amount even that for exchanges like binance . imagine what kinds of developtment can start with this money ? Luna really make all market participants shock , from retailer till whales suffering huge loss and maybe profits from previous project gone only in few days only.

[romero121]

Binance requesting the Luna team to provide compensation for its users is a way to gain the trust over the platform. If things have happened out of a Decentralised Exchange, there won't be any issues. Here Binance itself have experienced a massive loss out of the investment. As things have happened in a very short time period, no Exchanges were able to make outright decisions to escape the loss. Already the Luna Terra fund back-up reserve have got emptied. So, only the recovery can provide the compensation and not the team.

[sunsilk]

It's likely that the Terra foundation has given a huge chunk of Luna as they've became listed to Binance. CZ didn't saw that coming when the price plummets so fast and he probably thought that it will recover.

But looking at the perspective and recovery plan of Luna and UST, there's no hope as he said it from his mouth. Yeah, he might be poor again as a meme but he's still a billionaire.

I hope LUNA can recover in time no one will know not for now. I feel sorry for CZ, even though he is a rich person with a lot of money, but he has sacrificed his life in the crypto world, known to many people. if she felt relaxed in yesterday's circumstances, I think there might be a private conversation between CZ and the founder of LUNA, if for example LUNA can recover gradually why can CZ relax

I don't want to crack your nut but it's better if you don't expect anything from this project anymore because it's almost dead. CZ is still fortunate and rich despite the losses that he has got with Luna.

The LFG has a lot of things to fix beacuse of this fiasco that they've made. Even if they deny allegations that they've never profited nor benefited from this issue.

It is for sure that they can't change the mind of people regardless of what they tell, a lie or a truth.

[mdzahed134]

Has anybody thought of buying Luna despite what's happening?

will not buy back luna , i have sold my luna when the value fell 30% of my initial capital at least i didn't lose too much
I'm grateful I'm not like my other friends they haven't had time to sell their Luna

Right, there are no hope to back luna price. I think 90% of the holders didn’t sell their tokens because they believed price will back again but luna price is going to zero it’s really disappointed who lost their big amount of money. I was small investors provably i sold luna when i have seen my portfolio down almost 20%. But i'm not disappointed because of my initial investment was 100$+.

[|MINER|]

-snip-

Anyway, here I have taken 6 dollar profit from luna . Just as Luna has made many people the beggar of road  on the other hand it also made some People rich.The people who trade under .00000 they have big profit now . But even then I think a cursed time in the cryptocurrency world has passed for Lunar. Many people attempt suic*ide for it . I think every project should learn from Luna's mistake

[makishart]

That amounts when luna reached the all time high. It's also a very big surprise for anyone in here if it's not only luna who has been loosing a lot but UST and ANC too. The investors from these three coins have been facing a very difficult situation when their investment worth nothing for now. We are very close to the luna 2,0 Im feeling curious what will be coming in this update. I meant the new token will be launched and UST will be residual. We will see whether this token can make luna v2 become a good token again or not.

[evilgreed]

               Well at least the guy still has the mood to be funny/humorous despite the losses. Although the guy is rich, losses still hurt if not for the pocket but for the emotional aspect of the investor. Still, I pity the small time investors that suffered the most. Specially the newvies that has gone into Terra Luna head first investing amounts they cannot afford to lose because of the hype or the several influencers that shilled Terra Luna non-stop regardless of their intentions (good/bad). At least though, Do Kwon is trying to fix things.

[blockman]

Right, there are no hope to back luna price. I think 90% of the holders didn’t sell their tokens because they believed price will back again but luna price is going to zero it’s really disappointed who lost their big amount of money. I was small investors provably i sold luna when i have seen my portfolio down almost 20%. But i'm not disappointed because of my initial investment was 100$+.

It's no use buying luna unless you want some display on your wallet. Those holders from the beginning before the 100% drop of Luna can't do anything about it.
They're too late to realize that selling at loss is no longer an option for them because if they do, they've got nothing anymore and they'll just throw it in the air.