Terraform Labs, CEO Do Kwon has agreed to a $10 million bet with a crypto movie star often known as GCR, or Gigantic Rebirth, on Terraform’s future value (LUNA).
Each events have transferred $10 million in stablecoins (USDT for Kwon and USDC for GCR) to an escrow account, which is simply an Ethereum pockets managed by a seasoned crypto dealer named Cobie. GCR handed their cash over yesterday, whereas Kwon solely just lately despatched his, confirming the wager. (You’ll be able to verify extra info on Cobie’s Pockets HERE)
The betting is on whether or not the worth of Luna might be better or decrease one yr from as we speak. Kwon is betting on the worth of his personal undertaking, LUNA, whereas GCR is betting in opposition to it. On the time the wager was accepted, the worth of LUNA was round $88. This comes only a day after Kwon agreed to a smaller wager on the identical phrases with a separate pseudonymous crypto individual often known as Sensei Algod. Each individuals despatched $1 million to the identical escrow account yesterday.
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