The price of assets fell 554,400 times - the head of the Binance exchange lost $ 1,600,000,000 due to the collapse of the Terra cryptocurrency

In the first half of May, cryptocurrency Terra  fell almost 95% in a day. After some time, its value dropped to almost zero. Collapse Terra led to the fact that many lost their investments. In particular, the head of the exchange Binance Changpeng Zhao.

In 2018 Binance purchased 15 million tokens, spending only $3 million, i.e. when the price of the asset was about 20 cents. However, over four years, integration into the blockchain system of a number of DeFi-projects led to an increase in the rate Terra ten times. At its peak in April this year, the asset traded for $120.

According to Zhao, mid-spring investment Binance in Terra turned into $1.6 billion. At the time of writing, the cost of the cryptocurrency is $0.0001924. During the day, she even managed to rise in price by 11%. So the investment Binance in the amount of $ 3 million over four years increased by more than 500 times, and then fell 554,400 times in a few days. Now 15 million coins Terra valued at less than $2,000.