In his autobiography, Binance CEO Changpeng Zhao (CZ) disclosed that Binance's $3 million investment in LUNA tokens in 2018 had surged to $1.6 billion before the Terra ecosystem's collapse. Despite the significant valuation, Binance opted not to reduce its holdings, fearing that a large sell-off could intensify market panic. CZ emphasized the importance of not appearing to exit before retail investors, especially during the market's rapid downturn.