Terraform Labs CEO Do Kwon has accepted a challenge from user Sensei Algod about LUNA’s prospects. As part of it, he has bet $1 million, an amount that he will lose if the asset loses value in a year.
At the time of the bet, LUNA was trading at $88. Do Kwon will win if the weighted average price of the asset as of March 14, 2023 is above this value.
Opinion leader Cobie, also known as Crypto Cobain, has acted as an arbiter in the bet. He has received $1 million in USDT from each bettor on a wallet under his control.
Do Kwon also agreed to increase the bet to $10 million under the same terms in a dispute with a trader named GiganticRebirth. At the moment, the CEO of Terraform Labs has not had time to confirm it in cash.
Sensei Algod is known as a critic of Tether (USDT) as well as TerraUSD (UST). He is convinced stablecoin issuers are “printing money out of thin air.”