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Novogratz of Galaxy Digital lost billions in the UST collapse as well as having a tattoo of Luna on his arm. He was not a normal clueless person. There are als
by seibelj 4y ago
Novogratz of Galaxy Digital lost billions in the UST collapse as well as having a tattoo of Luna on his arm. He was not a normal clueless person.
There are also clueless people who bought SNAP stock the day before it dropped 45%.
There are also clueless people who paid $200k for degrees from top tier universities and are now in debt up to their eyeballs with no way to repay.
There is simply no way to protect people from cluelessness without banning our freedom.
- woodruffw 4y agoThe goal of a healthy regulatory environment is not to prevent everyone from frittering their money all the time. It's to keep the worst schemes from affecting as many people as possible.
- haasted 4y agoAccording to this article, Galaxy came out of the whole thing with a pretty nice surplus. https://www.cnbc.com/2022/05/29/who-got-rich-before-terra-stablecoin-collapsed.html https://www.cnbc.com/2022/05/29/who-got-rich-before-terra-st... > In its Q1 earnings filing, Galaxy noted that the largest contributor to its net realized gain on digital assets of $355 million was sales of luna.
- ohgodplsno 4y agoYou can both be rich and clueless. Which is about 99% of the crypto startup universe