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, the Terra cryptocurrency fell in price by almost 95% in a day. Some time later her

the price dropped to almost zero. The collapse of Terra caused many to lose their investments. In particular, the head of the Binance exchange, Changpeng Zhao.

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

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

</ p>