Retail investors in Terraform Labs' collapsed luna cryptocurrency didn't understand the risk they were taking, novogratz said. By thesamreynolds
had failed to appreciate the risks involved and held onto their tokens for too long.
“It was heartbreaking when the whole thing collapsed,” he said. “When a token goes from 20 cents to $100 and you don’t take profit, that’s lunacy.” The problem was a lack of “risk management methodology” for many retail investors who excitedly bought into the token as it was appreciating. Speaking at the Token 2049 conference in Singapore, Novogratz appeared to play down some of the more serious accusations leveled at Terraform Labs’ co-founder Do Kwon, who is being sought by South Korean authorities on
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