The Block's VP of Research Shares Document that Suggests Binance Invested $300m in Terra (LUNA) 12

The Block’s VP of Research Shares Document that Suggests Binance Invested $300m in Terra (LUNA)

Summary:

  • Larry Cermak has shared a document showing that Binance might have invested $300 million in Terra
  • Mr. Cermak was responding to a Tweet that suggested he might have lied on his claims that Binance was a significant investor in Terra
  • CZ had earlier refuted rumors that Binance had invested the said amount in Terra (LUNA)
  • There is a probability that the funding round with the alleged $300 million was never finalized

The VP of Research at the popular crypto publication known as The BlockCrypto, Larry Cermak, has shared a document through Twitter that suggests that Binance and Jump Crypto each invested $300 million in the Terra (LUNA) project.

The document, which can be found below, also suggests that the alleged funds were committed during a $1 billion funding round in which Three Arrows Capital (3AC) also participated.

The Block's VP of Research Shares Document that Suggests Binance Invested $300m in Terra (LUNA) 13
Document hinting Binance might have invested $300m in Terra (LUNA). Source, Larry Cermak on Twitter (@lawmaster)

CZ Had Earlier Refuted Claims Binance Invested in Terra (LUNA)

Mr. Cermak was responding to another Tweet by crypto community member @HsakaTrades, who had questioned whether he had lied about his claims that Binance had invested $300 million. @HsakaTrades had referenced news that CZ had debunked the rumors that Binance had invested the said amount in Terra (LUNA).

A screenshot of the Twitter conversation can be found below.

The Block's VP of Research Shares Document that Suggests Binance Invested $300m in Terra (LUNA) 14

Perhaps the Deal Between Binance and Terra Was Not Finalized

In his response, The Block’s VP of Research stated that there is a slight possibility that the funding round might not have been finalized. Furthermore, he was not sure whom to trust between Terra’s Do Kwon and the team at Binance. He said:

So I guess they could have lied or never closed. But I didn’t make this sh*t up lol just don’t know who to believe.

Very difficult whether to trust CZ or Do Kwon at this point. But they used this doc for investors in the last round.

If they didn’t close then who took the remaining $700M outside of Jump? That’s what makes no sense to me