Crap on a shovel, not meme coins in the state reserve! Are you completely stupid?
Donny Brasco
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Quite a large hedge fund Siglinde Fund bought and withdrew from Binance #PENGU at $3.5 million. đşđ¸ #PENGU American coin, so we are waiting for the addition to the strategic reserve of meme coins in the USA, which Trump announced yesterday.
BlackRock along with friends skillfully crashed Terru and collapsed the market making a lot of money.
Impuls4444
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I'll explain why Luna (Terra) actually collapsed
First, I'll explain how the coin worked in the blockchain so you can understand what happened.
1 Luna coin was pegged to 1 TUSD (Stablecoin 1 dollar Terra)
So L - T they are equal, the same price 1 dollar. 50 to 50
L - Luna coin T - Terra dollar
L L L L L - T T T T T (5-5)
When large investors invested money in the coin, a coin shortage occurred. Coins were burned. And it went.
L L L L - T T T T T T (4-6)
And the price of Luna rose
But when investors withdrew money, the blockchain created new coins. And the coin shortage disappeared, and the price fell
L L L L L - T T T T T (5-5)
This coin began to attract a lot of money. And a large coin shortage appeared.
At a price of 115 per coin it was
L - T T T T T T T T T (1-9)
As we can see, the coin shortage was huge. The blockchain automatically added or removed coins. It worked great.
But on May 6-7, a large investor withdrew 200 (400 different figures) million dollars. And the coin price fell. Panic started. Large investors began to withdraw their money. The blockchain started creating a huge number of coins. The Terra Dollar itself collapsed. It disappeared. There was no investor money.
L - 0 (10-0)
In an attempt to save the situation, they began selling their Bitcoins. But it was already too late.
đ¨ Breaking News: Do Kwon Pleads Not Guilty in US Court to Fraud Charges đ¨
In a dramatic turn of events, Do Kwon, the co-founder of Terraform Labs, has pleaded not guilty to fraud charges in a US court today. âď¸
Kwon, who was once hailed as a visionary in the cryptocurrency world, now faces multiple serious allegations related to the collapse of TerraUSD and LUNA. These crypto tokens lost billions of dollars in value, devastating thousands of investors. đđ¸
The charges against him include wire fraud, conspiracy, and market manipulation, all tied to his role in Terraform Labs. The collapse sent shockwaves through the crypto community đ, shaking investor trust and leaving many wondering: Could this be the end of an era for the unregulated world of crypto? đĽđ
Kwonâs legal team argues that the charges are overblown and that his actions were not fraudulent. They assert that the fall of TerraUSD and LUNA was an unfortunate market event, not intentional wrongdoing. But prosecutors are pushing hard for justice, accusing him of misleading investors and inflating the value of his assets. âď¸đŠââď¸
With his trial now underway, eyes are on Kwon as he faces the battle of his lifeâhis freedom and reputation hanging in the balance. đđź Whatâs next for the controversial crypto figure? Stay tuned.
Entered the crypto space in 2017 with 50$ earned 7000$ invested it in mining, bought rigs with RX 580 in 2021 sold everything and now I'm on Binance, in general, nothing is impossible in this market!
Yes, yes, I remember! Bitcoins were sold by Parex bank in the currency kiosk at the station, sold by weight. One bitcoin cost a few lats, or something like that..
Innariga
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$BTC A story from my life. In 1999, my mother came to visit us. We were waiting for her with impatience, because we rarely saw each other: she lived in Russia, and I lived with my family in Latvia. One evening, Mom started a conversation about bitcoin, claiming that it was a promising investment. I didnât believe her then, it made me smile, and I didnât have any dollars. Mom literally persuaded me, convinced me. Oh, if only I had listened and believed. Now, looking back, I understand how wrong I was.
I know this dad! He is the son of my mom's friend.
Cryptonian_
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The father of an acquaintance works in cryptocurrency. Today he was urgently called to a meeting. He returned late and explained nothing. He only said to pack up and run to buy Bitcoin and altcoins. We are now going to deposit cash into crypto. I don't know what's happening, but it seems to have started...
That's right, he lost everything overnight due to high leverage and making the wrong bet. When he was making three million, he had discussed getting married with his girlfriend. When she heard about his bankruptcy and zero balance, she decisively broke up with him. During that time, he was very depressed, losing both love and wealth. But deep down, he refused to give up. Thinking about his elderly parents back in the rural hometown, about their hard work and the sweat they shed under the scorching sun, about the deep wrinkles on their faces, he went crazy. He wanted to get rich and give his parents a better life. Later, in the bull market of 2020-2021, my senior suddenly called me and said he wanted to treat us to dinner because he had become a nine-figure millionaire. When we met him, he excitedly shared his story and experiences of how he became wealthy. In his rented room, he studied technical analysis diligently, and finally one night, after reading the wave theory and volume-price analysis for the 83rd time, he had an epiphany. From then on, he couldn't be stopped. He said that one must trade futures, use high leverage, and invest in those popular meme coins, because thatâs how to capture the upward trend; the higher the enthusiasm, the higher the heat, and the greater the value of the memes. Spot trading with thousands or even tens of thousands of times is not a problem, let alone futures trading with high leverage! He even showed us his account, and indeed, there were tens of millions of USDT inside. We were truly envious and hoped that the big shot would take us along.
Cardano$ADA sharply fell from a recent high of $1.20 to $0.9555 due to strong selling pressure, significantly reducing its market capitalization and undermining investor confidence.$ME $RAY Despite this bearish trend, the price may find immediate support at the psychological level of $0.90. If bearish sentiments intensify, $0.85 may become another key level to watch. Conversely, recovery efforts must overcome immediate resistance at the level of $1.00. A breakthrough above $1.10 may signal a resumption of bullish momentum and a shift in market sentiment.#2024withBinance
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