Delphi Ventures, the fund of Delphi Digital, disclosed how much money it lost in the Terra LUNA collapse. In a recent blog post, the company mentions over $10 million in losses.
Delphi Digital loses $10M on LUNA investment
According to a recent blog post, Delphi Ventures, a fund of crypto research firm Delphi Digital, announced that Terra’s He lost about $10 million after his LUNA crashed. In the first quarter of 2021, the fund purchased a modest amount of LUNA on the secondary market, subsequently increasing its exposure to cryptocurrencies. During the high price period, Terra (LUNA) accounted for only 13% of Delphi Ventures’ net asset value (NAV). Only 5% of the total number of transactions were linked to the problematic Blockchain supported protocols. In May, the Terra ecosystem suffered a major crash that shaped the LUNA graph below…
LUNA hasn’t been making headlines for the past week, and it’s getting serious with the involvement of institutions and governments. Mike Novogratz, who is known to be a big supporter of Terra, also broke his silence. He says he will get his tattoo done if the LUNA price exceeds $100 last November.
Mike Novogratz broke his silence, here are his statements
Galaxy Digital CEO Mike Novogratz, one of Terra’s leading supporters, suddenly broke his week-long silence yesterday. The billionaire claimed that the widely ridiculed LUNA tattoo would serve as a reminder that investing “requires humility.” According to American billionaire investor Bill Ackman, Terra was a typical ponzi scam, so his downfall was foreseen. As we have covered in
Kriptokoin.com news, Terra’s co-founder Do Kwon has not yet made any regretful statements. Instead, it gives the community hope and explains why Terra 2.0 will work. He recently announced a new strategy that involves hard forking Terra to launch the UST stablecoin, which dropped to an all-time low of $0.08.
Meanwhile, LKB & Partners, one of South Korea’s most prestigious law firms, chose to sue Kwon. Regulators have also focused their attention on the failed stablecoin project in South Korea and other parts of the world, resulting in losses of tens of billions of dollars.
