Pure speculation, but this is highly unlikely. Binance is the largest crypto exchange, and related entities are known to actively trade on it. Binance also list

Pure speculation, but this is highly unlikely. Binance is the largest crypto exchange, and related entities are known to actively trade on it. Binance also listed $LUNA futures. It's plausible bordering on likely that they were short at least some amount of futures against their spot position which was earning 20% yield on Anchor. Honestly, it would be highly irresponsible if they didn't hedge some/most/all of it.