The CEO of Terraform Labs Do Kwon has wager $10 million on the worth of Terra (LUNA) over the subsequent yr.
The large wager includes pseudonymous crypto investor Gigantic Rebirth, or GCR, and was sealed after the 2 deposited $10 million every into an escrow account operated by crypto dealer Cobie.
GCR was the primary to deposit $10 million price of USD Coin (USDC) into escrow, whereas Kwon, who positioned one other wager on LUNA yesterday, accomplished his switch moments later.
Beneath the phrases of the deal, the wager will go both means relying on the place the worth of LUNA might be in a yr from now. The Terra chief believes LUNA might be larger than at this time’s $88.00 by March 2023, whereas GCR is betting that the cryptocurrency’s worth might be decrease than the place it’s at this time.
On Monday, Kwon wager $1 million that LUNA would high the worth of March 14, 2022 on the identical date subsequent yr. At this time Cobie tweeted that the three events have deposited a complete of $22 million within the escrow.
†GCR, Do and Algod all deposited into the Cobie Luna wager escrow tackle. Could one of the best sword win‘, he famous as he shared a screenshot of the quantities.
Cobie has sworn to ensure the wager stands, assuring the crypto neighborhood that he will not “combat” anybody.
22m is beneath my “would carpet?” but when anybody wish to increase the stakes to tons of of thousands and thousands then I’ll actually think about stealing the cash and working away. Thanks
— Cobie (@cobie) March 15, 2022
LUNA is at the moment buying and selling round $91.40, up 17% over the previous week and about 469% larger than the worth this time round final yr.