In a move that has likely aged like milk, Terra founder Do Kwon had in March collectively bet around $11 million with two crypto traders on the price of LUNA.
Kwon wagered that LUNA would trade above $88 by March 2023- exactly a year from the placing of the bet.
The Terra founder bet $10 million with crypto trader @GiganticRebirth, and $1 million with @AlgodTrading. GiganticRebirth had doubled down on the bet by also taking a short position on LUNA.
The parties had locked the total $22 million in USDT with an escrow account run by popular crypto trader @cobie, who also runs a crypto podcast.
With Terra’s recent crash, there’s little question over who won the $22 million wager. LUNA is trading around $0.0006918, as of press time.
