Wealthy crypto exchange founder of Binance claims he’s broke again

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Wealthy crypto exchange founder of Binance claims he’s broke again

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.

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