The world\u2019s largest crypto exchange Binance<\/a> has efficiently accomplished six years of operations. Binance CEO Changpeng \u201cCZ\u201d Zhao shared the crypto trade\u2019s key occasions and challenges in an official statement<\/a>, wherein he additionally disclosed that Binance invested $3 million in Terra (now Terra Luna Classic) and by no means moved or offered LUNC holdings. Binance presently helps the Terra Luna Classic group with month-to-month LUNC burns and committing to the revival roadmap.<\/p>\n \u201cwe saw our initial $3M investment back in 2018 turn into $1.6bn at Terra\u2019s 2021 peak, and then down to close to $0 in 2022. Until today, the LUNA (now LUNC) tokens we received still sit on the address we originally received them on, never moved and never sold.\u201d<\/p>\n <\/p>\n<\/blockquote>\n After the May 2022 Terra-LUNA disaster, the Binance crew requested CEO \u201cCZ\u201d whether or not to promote the tokens, he mentioned \u201cno, let\u2019s just hold.\u201d<\/p>\n Also Read: Community Looks To Raise LUNC Gas Fees by 2x and Reduce Staking Undelegation Period<\/a><\/strong><\/p>\n The group reacted positively to Binance nonetheless holding LUNC tokens, committing to the event and revival of the Terra Luna Classic chain. It has renewed the sentiment amongst members to revive LUNC and USTC to $1, taking inspiration from Binance CEO \u201cCZ.\u201d<\/p>\n <\/p>\n Binance burned 2.65 billion LUNC tokens<\/a> within the eleventh batch of its burn mechanism. The crypto trade has burned 35.58 billion LUNC in complete, whereas the group has burned 69 billion LUNC.<\/p>\n Joint L1 Task Force (L1TF) and Quant developer groups are working with Binance and different exchanges to repeg USTC to $1, with the Quant crew in direct dialogue with Binance.<\/p>\n Make certain to learn the Quant Teams Week 2 Update! Its been a busy week for us, with preliminary iterations of the tooling constructed and a few preliminary modelling accomplished, we’re in a robust place main into week 3!#LUNC<\/a> #USTC<\/a> $LUNC<\/a> $USTC<\/a>#DecentralisedMoney<\/a> https:\/\/t.co\/pFfmie5f5r<\/a><\/p>\n \u2014 RedlineDrifter (@RedlineDrifter) July 15, 2023<\/a><\/p>\n<\/blockquote>\n <\/p>\n The group and developer teams to focus significantly on lowering LUNC and USTC circulating provide in Q3. L1TF has revealed its plan<\/a> of motion for Q3, with knowledgeable builders Edward Kim<\/a> and Superman returning again to the chain.<\/p>\n\n
Terra Luna Classic Community Reacts to Binance CEO Statement<\/h2>\n
\n
![\"\"](\"https:\/\/secure.gravatar.com\/avatar\/f187fb5b7b3b0b9367ef83384cb40d5f?s=200&d=mm&r=g\")