Terra’s CEO Do Kwon is Now Betting $1 million on LUNA’s future price

Will Terra’s LUNA price be lower than $88 this time next year?

Sensei Algod, a well-known Terra hater, initiated a public wager worth $1 million yesterday via Twitter that the LUNA token will have a lower price than $88 in a year (starting on March 14), based on its pricing at the time of the bet. He tagged Do Kwon, Crypto Harry, and Maria Macedo – three popular Terra-related accounts.

Surprisingly, Terraform Labs founder Do Kwon has accepted the $1 million bet two hours later. “Cool, I’m in,” he replied.

Both sides agreed to the conditions of the bet today, and each paid $1 million in USDT to an escrow wallet handled by Jordan Fish, the prominent crypto celebrity and UpOnly podcast host who knows by the alias Cobie.

If the average 24-hour price of LUNA is more than $88 on March 14, 2023, Cobie will give the money to Kwon, and if it is not, he will transfer it to Sensei Algod.

Sensei Algod is one of several well-known crypto investors who has called Terra a “Ponzi” in the past. Terra’s tokenomics design, which utilizes LUNA as the major stabilizing mechanism for the UST stablecoin, is frequently criticized.

Meanwhile, the Terraform Labs founder has also taken a $10 million wager from a crypto enthusiast known as GCR. The bet’s terms are similar, and Cobie has agreed to act as an escrow for the wager. Cobie’s wallet displays a $10 million USDC transfer from DCR, but Kwon has not responded yet.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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