Changpeng Zhao, the wealthy founder of the crypto exchange Binance, joked on Tuesday that he was “poor again” after the exchange’s investments in the cryptocurrency luna crashed to about $2,200 from $1.6 billion a month ago.
In a Tweet on Monday, Zhao said Binance, the world’s largest crypto exchange, held 15 million luna tokens.
He said Binance received these tokens in exchange for its $3 million investment in 2018 in the Terra network that luna is based on.
He added that its luna tokens were “never moved or sold.”
Binance’s luna holdings were worth $1.6 billion in early April at the token’s peak price. The coin traded at about $0.0001468 on Thursday.
Luna’s value has plunged in the past two weeks.