Terraform Labs, CEO Do Kwon has agreed to a $10 million bet with a crypto celebrity known as GCR, or Gigantic Rebirth, on Terraform’s future price (LUNA).
Both parties have transferred $10 million in stablecoins (USDT for Kwon and USDC for GCR) to an escrow account, which is just an Ethereum wallet managed by a seasoned crypto trader named Cobie. GCR handed their money over yesterday, while Kwon only recently sent his, confirming the bet. (You can check more information on Cobie’s Wallet HERE)
The betting is on whether the price of Luna will be greater or lower one year from today. Kwon is betting on the price of his own project, LUNA, while GCR is betting against it. At the time the wager was accepted, the price of LUNA was around $88. This comes just a day after Kwon agreed to a smaller bet on the same terms with a separate pseudonymous crypto person known as Sensei Algod. Both persons sent $1 million to the same escrow account yesterday.
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