Galaxy CEO Mike Novogratz Preaches ‘Humility’ Expresses Confidence In Crypto’s Future Despite LUNA/TerraUSD Crash

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In his first public comments since the dramatic collapse of dollar-pegged stablecoiin TerraUSD (UST) at its companion token LUNA, previous major backer Galaxy Digital CEO Mike Novogratz is using the loss as an expensive lesson and reminder of crypto’s riskiness and volatility.

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the Skybridge Alternatives conference in Las Vegas, Nevada, U.S., on Wednesday, May 8, 2019. Photographer: Joe Buglewicz/BloombergIn his first public comments since the dramatic collapse of dollar-pegged stablecoin TerraUSD and its companion token LUNA, previous major backer Galaxy Digital CEO Mike Novogratz is using the loss as an expensive lesson and reminder of crypto’s riskiness and volatility.

“There is no good news in what happened in markets or to the Terra ecosystem. In Luna and UST alone, $40bn of market value was destroyed in a very short amount of time. Both large and small investors saw profits and wealth vanish. The collapse dented confidence in crypto and DeFi,” said Novogratz in aTo that end, he has resolved to keep the LUNA tattoo, which he famously had added to his left arm in TK as a reminder.

 

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