Panthera and other venture capitalists were fortunate to close their investments before LUNA fell in value. The Terra ecosystem tokens LUNA and UST, which suffered one of the most disastrous crashes since the birth of the cryptocurrency sector, resulting in losses of over $60 billion, are no longer news.
According to CNBC, Pantera Capital, a venture capital firm, yielded a 100-fold return from its $1.7 million investment in LUNA. While early investors like Binance were not fortunate enough to exit the project on time, some others were, and they claimed to have gained a fortune doing so. Binance’s CEO revealed that the company invested $3 million in Terra (LUNA) in 2018 as part of Binance Labs’ hundreds of investments.
When LUNA was selling at an all-time high of $119 in 2018, the 15 million coins that cost Binance $3 million could have been sold for 560x returns, but the exchange neither transferred them nor sold them while still holding them.
Hashed Ventures, located in Seoul, has revealed that it has lost almost $3.5 billion.
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Who Else Profited?
Terra’s investors, including Panthera Capital, Hack VC, and CMCC Global, were among the fortunate investors who were able to exit before the UST and LUNA collided.
Panthera Capital, for example, revealed that its $1.7 million investment in LUNA resulted in a 100-fold return, as the property was sold before the sad occurrence that rocked it earlier this month.
Similarly, Hack VC and CMCC Global saw significant growth. However, they did not reveal the amount of profit they made from their LUNA investments.
According to the research, Hack VC sold its LUNA holdings in December 2021, while CMCC Global sold the tokens in March, less than two months before the price of the coins plummeted.
The business opted to sell due to worries regarding Terra’s technology as well as laws, according to CMCC Global founder Martin Baumann.
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