1 yr after $11M LUNC bets; Do Kwon wished, funds paid, hedge caught on FTX

Roughly one yr prior, on Mar. 14, 2022, cryptocurrency dealer GiganticRebirth (GCR) invited the then co-founder of CEO of Terraform Labs, Do Kwon, in a $10 million wager that the value of Luna (LUNC) can be decrease than its then worth of $92.4 per token one yr later. The blockchain government accepted the provide, the second within the sequence after the day prior, when cryptocurrency dealer Algod supplied a $1 million wager that LUNC can be decrease than $88 per token on Mar. 13, 2023, to which Kwon additionally accepted, leading to two bets price $11 million and prize cash pool of $22 million .

The funds, which totaled $22 million from all members, had been held in escrow by blockchain character Cobie on their tackle. Cobie claimed on the time, a sizzling pockets was given to members “on my cell phone whereas i used to be in the midst of africa, when i awoke there was $22m deposited.”

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