CZ Says Binance Supports Proposal to Compensate LUNA Retail Users First

Binance’s Changpeng Zhao (CZ) has said the speech supports the connection to compensate retail LUNA users up of larger investors. He besides said the LUNA tokens received by Binance successful speech for a $3 cardinal concern successful Terra person not been sold oregon moved.

Binance’s LUNA Tokens Not Sold

After his speech faced disapproval for its handling of LUNA tokens, Binance CEO Changpeng Zhao (CZ) tweeted that immoderate compensation for LUNA holders indispensable prioritize protecting the interests of retail users. He said Binance has already taken the pb by electing to beryllium compensated last.

In the latest Twitter thread wherein helium addresses the contention surrounding the LUNA token crash, Zhao revealed to his followers that Binance had received 15 cardinal LUNA tokens successful speech for an concern of $3 million. According to the Binance boss, the LUNA, whose worth erstwhile peaked astatine $1.6 billion, “still sits connected the code we received at. Never moved oregon sold.”

Likewise, the 12,000,000 UST that Binance gained from staking implicit time, are besides inactive sitting astatine the aforesaid address, Zhao said. He claimed these person ne'er been moved oregon sold.

LUNA Users’ Reaction

Despite holding important amounts of some LUNA and the UST stablecoin, Zhao said the Binance squad had agreed with a connection to prioritize compensating retail users first. He said:

Now the important part. To pb by illustration connected PROTECTING USERS, Binance volition fto this spell and inquire the Terra task squad to compensate the retail users first, Binance last, if ever. Binance (after a 5 min discussion) afloat enactment this proposal.

Reacting to CZ’s endorsement of a compensation program that was initially projected by a Twitter idiosyncratic known arsenic Persian Capital, immoderate of the Binance CEO’s followers insisted this attack was incorrect due to the fact that it would spot astatine a disadvantage those heavy invested successful LUNA. The Twitter idiosyncratic named SEIF Motawi said:

“This is highly wrong. What astir the ones who invested wealth successful LUNA and each of their beingness savings are present gone? Are they not worthy being compensated arsenic well?”

Another user, Veronica, remarked: “Brilliant! So those of america who bought UST oregon luna and sent it to Binance, oregon Metamask, oregon different platform, for example, got screwed. Make the affluent get richer and the mediocre get poorer! large job.”

However, immoderate users who assertion to person mislaid funds are praising the presumption taken by the Binance CEO, but inquire if this connection tin beryllium implemented.

What are your thoughts connected this story? Tell america what you deliberation successful the comments conception below.

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