Explore tweets about #Binance on Twitter
4/ Now the important part.
To lead by example on PROTECTING USERS, Binance will let this go and ask the Terra project team to compensate the retails users first, Binance last, if ever.
Binance (after a 5 min discussion) fully support this proposal. 👇
The second way is to prioritize smaller wallets. People who had a couple thousand or more of UST deposited in Anchor.
If Terra just focussed on the "poorest" 99.6% of wallets, then they could make this gigantic group 100% whole.
Yes, you read that right!
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2/ Binance received 15,000,000 LUNA (at peak worth $1.6 billion USD, now not much) as part of the original ($3m) invest. 560x return at peak. It still sits on the address we received at 👇. Never moved or sold.
Address:
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JUST IN: $LUNA Foundation allegedly sent 80,394
#Bitcoin
($2.5 billion) from its reserve to Gemini and Binance.
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🔸FUD
🔸FOMO
🔸HODL
🔸BUIDL
🔸SAFU
🔸ROI
🔸ATH
🔸ATL
🔸DYOR
🔸DD
🔸AML
🔸KYC
Ever seen one of these abbreviations and wondered what it meant?
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1. At
#Binance
we prioritize user protection. We made the decision to suspend LUNA and UST trading. Here's why.
A thread 👇
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Binance CEO: We ask the Terra team to compensate retail users first and Binance last, if ever.
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@cz_binance
I’ve invested in 400 crypto start ups. 80% of they will probably fail.
You’re the man
@cz_binance
!
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Was in a no-phone meeting for 2hrs. At least, there is progress.
Luna blockchain resumed, no more minting.
And deposits, withdrawals and trading resumed. Trading is important for existing holders.
Please do NOT buy a coin just because trading is on. DYOR! EXTREME caution!
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We probably do have some from trading fees. Probably valued close to 0 now. (Think of it as free trading in the past, haha). This just wasn't on my mind. Not how we prioritize things. Users first. 🙏
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Was an honor chatting with MP Francesco B and others in Italy 🇮🇹 last week. Many thanks for the written summary!
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3/ On this same address, we have about $12,000,000 UST from staking over time (not bought). Also never moved or sold.
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