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Binance's LUNA investment, which peaked at $1.6B, now worth just $3k (theblockcrypto.com)
33 points by doener on May 16, 2022 | hide | past | favorite | 1 comment


Pure speculation, but this is highly unlikely. Binance is the largest crypto exchange, and related entities are known to actively trade on it. Binance also listed $LUNA futures. It's plausible bordering on likely that they were short at least some amount of futures against their spot position which was earning 20% yield on Anchor.

Honestly, it would be highly irresponsible if they didn't hedge some/most/all of it.




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