Changpeng “CZ” Zhao the CEO of Binance on Tuesday shared an article reporting the company’s losses on its LUNA investment.

Zhao wrote “poor again” a term often used in the crypto community

It is reported that Binance’s $3 million investment in 2018 in Terraform Labs yielded $1.6 billion at the peak price of LUNA in April. After UST lost its peg to the dollar, the price of LUNA went down to almost zero. The $3 million investment is now valued for less than $3000.

"Lots of people reassured by the fact that unlike in traditional finance, even 'big players' like CZ can end up being 'bag holders' in the crypto industry." 😂

Lesson: manage your risks. We can handle ours.https://t.co/Sm8SSNz0q1

— CZ 🔶 BNB (@cz_binance) May 17, 2022

Despite the loss on its investment, the company and CEO are doing well, having amassed a trading volume of $34.1 trillion, and earlier this year, the company was reportedly worth 6 times of its closest competitor Coinbase.

Featured image source: CNBC.