Viral Video Luna Coin Twitter

By | May 17, 2022

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Video Luna Coin Twitter

Michael Novogratz, the self-described “Forrest Gump of Bitcoin,” was snapping a photo outside a tattoo parlor in Brooklyn a few months ago — and, as usual, tweeting about it.

Novogratz couldn’t wait to show off his new tattoo: A wolf howling at the moon, accompanied with the word “Luna,” a reference to the once-popular, now-defunct cryptocurrency that has crashed drastically in the last week.

Novogratz, a frequent crypto booster on Twitter, has now gone silent. After tweeting 60 times in January, over 50 times in February and March, almost 30 times in April, and about once a day in the first week of May — nothing.

He hasn’t tweeted since May 8, and there might be a reason for his pause. His crypto business, Galaxy Digital Holdings Ltd., announced on Friday that it was expecting a $300 million loss this quarter.

The loss would reduce “partners’ capital” or total equity to $2.2 billion, a 12% decrease from March 31, according to the statement, which made no mention of Luna, despite the fact that his name is conspicuously inscribed on his bicep .

Novogratz’s spokeswoman did not reply to a request for comment

On May 9, when TerraUSD lost its peg to the dollar, Novogratz stated on Galaxy’s earnings call that the cryptocurrency market would be “volatile and challenging,” and that so-called algorithmic stablecoins would face a “very huge test.”

The Galaxy announcement came four days later, at the conclusion of a week that saw the crypto market plummet, fuelled by the demise of TerraUSD and its sister currency, Luna.

According to CoinGecko statistics, the overall market value of cryptocurrencies has plummeted by around $326 billion in the last seven days to approximately $1.33 trillion.

According to PitchBook statistics, Novogratz’s Galaxy Digital made its first investment in Terraform Labs, the firm behind Terra and Luna, in September 2020. In public pronouncements, Novogratz stated that he was a large shareholder in Luna, and business papers reveal that Galaxy made substantial gains on its investment.

Luna was one of three coins that generated the majority of the firm’s $1 billion in realized profits last year. It continued to sell in the first quarter of this year, when it was reported that Luna sales were the largest contributor to its $355 million in realized gains.

“There’s a genuine logic of what initiatives we invest in, what projects we advise our clients to invest in, and what ones we don’t,” Novogratz said in March at the KBW Fintech Payments Conference. “Last year, I made a big call that you should be short Cardano and long Luna—it was one of the finest calls I’ve ever made.”

Novogratz, a Goldman Sachs veteran who wrestled at Princeton and was a helicopter pilot in the United States army before starting his financial career, has utilized crypto investment to make a return on Wall Street.

At Fortress Investment Group, he created a reputation for himself and a lot of money. However, his macrofund was liquidated in 2015 after two years of losses.

Novogratz started Galaxy Digital in 2018. It engages in a variety of digital asset-related industries, including trading, asset management, investment banking, principle investments, and crypto mining. Its stock has dropped by 80% since its high in November.

At the conclusion of the first quarter, it had around $2.7 billion in assets under administration, more than doubling from the previous year.

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