Changpeng Zhao: «Binance as Terra’s creditor is ready to stand at the end of the line»

At the Ask Me Anything Q&A session on Reddit,Changpeng Zhao said that if Binance ever goes bankrupt, it will always put the interests of traders above those of shareholders. First of all, the platform will return money to its retail clients, the CEO assures, while large ones will have to wait. He also added that the funds of clients and the exchange itself are kept separate.

The Binance CEO spoke about investments in the LUNA coin, which amounted to $ 1.6 billion, and after the collapse of this cryptocurrency, they dropped to $ 3000. In order to set an example for the protection of user rights, Zhao asked the Terra project team to compensate retail investors first, and Binance is ready to «stand at the end of the line.»

It’s worth noting that Binance actually invested $ 3 million a few years ago, which was actually $ 1.6 billion at its peak.