6/ In this regard, I would like to see more transparency from them. Much more! Including specific on-chain transactions (txids) of all the funds. Relying on 3rd party analysis is not sufficient or accurate. This is the first thing that should have happened.

5/ The last few days, we tried hard to support the Terra community. In my tweets, I am simply pointing out the potential issues from my understanding. Minting, forking, don’t create value. Buying back, burning does, but requires funds. Funds that the project team may not have.

4/ Binance Labs invested in hundreds of projects over the last 4 years, including exchange “competitors” and many “competing” blockchains. A few of them have fallen by the wayside, but a few have been extremely successful. That’s how investments work.

3/ Binance did not participate in the 2nd round of Luna’s fund raising nor did we acquire any UST. Binance Labs invested $3m USD in Terra (the layer 0 blockchain) in 2018. UST came much later after our initial investment.

2/ First, I need to address falsehoods circulating in crypto twitter.

7/ I am not always right, but my perspective is: Failures can/will happen. But when they do, transparency, speedy communication and owning responsibility to the community is extremely important.

1/8 These past weeks have proven to be a watershed moment for the crypto industry. We have witnessed the rapid decline of a major project, which sent ripples across the industry, but also a new found resiliency in the market that did not exist during the last market downswing.

8/ I am just hoping that the project teams can rise from the ashes and rebuild in a proper and sensible way. Regardless of my personal views, or the solution chosen in the end, we will always be here to support the community in any way we can.

6 million reasons to thank you for all your support. 🙏🙏🙏🙏🙏🙏 120 million reasons the fight for the safety of our users. 🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏 xitter.cf/cz_binanc…

The design flaw: minting coins (printing money) does not create value, it just dilutes the existing coin holders. Incentives doesn’t create value. It is just a bootstrap mechanism. Build products people use.

You can't mint your way out of bankruptcy all the time.

Many people don't get this point. If we didn't push the issue, the Terra blockchain may still be in "halted" mode, or worse with super minting...

Was in a no-phone meeting for 2hrs. At least, there is progress. Luna blockchain resumed, no more minting. And deposits, withdrawals and trading resumed. Trading is important for existing holders. Please do NOT buy a coin just because trading is on. DYOR! EXTREME caution!