The stakes have been multiplied by a factor of 10 in the latest bet between Do Kwon and a community member about LUNA’s price in a year.
A day after getting into a million-dollar worth bet against a cryptocurrency community member on where LUNA’s price will be in a year , Terraform Labs CEO has doubled down by putting another $10 million in a new bet.yesterday, Do Kwon agreed to a $1 million bet against a community member going under the Twitter pseudonym – Sensei Algod.
If LUNA’s average price on March 13, 2023, is above $88, then Terraform Labs’ CEO wins the bet and vice-versa. KwonWhile putting up a million dollars sounds like a lot to many people, Do Kwon raised the stakes later by answering another challenge. This time, Twitter user – GCR – wanted to have the same bet , but he proposed to put up $10 million.Do Kwon responded quickly, and similarly to the first wager, both parties transferred $10 million worth of stablecoins to the escrow account owned by the crypto community veteran – Cobie.
Keeping in mind that the total amount held in the escrow wallet skyrocketed from $2 million to $22 million in a day, Cobie outlined a new approach on how he plans to address the account. Jokes aside I will set up some 2/3 multisig custody so if I die or go to jail or something then funds can still be retrieved by bet resolution
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