Terraform Labs, CEO Do Kwon has agreed to a $10 million bet with a crypto celebrity known as GCR, or Gigantic Rebirth, on Terraform’s future price (LUNA).
Both parties have transferred $10 million in stablecoins (USDT for Kwon and USDC for GCR) to an escrow account, which is just an Ethereum wallet managed by a seasoned crypto trader named Cobie. GCR handed their money over yesterday, while Kwon only recently sent his, confirming the bet. (You can check more information on Cobie’s Wallet HERE)
The betting is on whether the price of Luna will be greater or lower one year from today. Kwon is betting on the price of his own project, LUNA, while GCR is betting against it. At the time the wager was accepted, the price of LUNA was around $88. This comes just a day after Kwon agreed to a smaller bet on the same terms with a separate pseudonymous crypto person known as Sensei Algod. Both persons sent $1 million to the same escrow account yesterday.
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.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
KAZ
CoinCu News
George Town, Grand Cayman, 22nd November 2024, Chainwire
Inflation Warning by Vanguard highlights risks during Trump’s term, citing tariffs and tighter labor markets…
Clanker token trading volume hit $59.8M on Nov 21, accounting for 14.75% of PumpFun. Fee…
Bitcoin Spot ETF inflows hit $1.005B on Nov 21, led by BlackRock’s $608M and Fidelity’s…
Discover the success story of a New York tech entrepreneur who made $72M from a…
Discover the best cryptos to buy and hold today: Qubetics leads with 1000x potential, Ethereum…
This website uses cookies.