The post OnChain Capital CEO Ran Neuner’s Fall And Comeback, Lost $134M In The LUNA Crash! appeared first on Coinpedia Fintech News
Raoul Pal, the CEO and co-founder of Real Vision, in his recent YouTube video, interviewed Ran Neuner, a renowned crypto personality, uncovering his life story around his bankruptcy, and discussing how the LUNA crash played a major role in his downfall and comeback.
The Onchain Capital CEO has been a part of the crypto industry since 2015. He started off as a crypto investor and managed to make heavy profits despite the earlier bear runs. He revealed that through a geeky friend, he was familiarized with Bitcoin, which later became his whole future career.
Neuner’s Multiple Setbacks
Ran Neuner noted that he hit rock bottom not once or twice, but three times in his career. The first time he started a tech business (.com bubble), which ultimately failed. Secondly, he started a marketing company and made millions after selling it, but after he shifted to New York from Africa to make it big in crypto trading, he again suffered a failure. He called New York a concrete jungle, as many also refer to it. COVID-19 made it all the more worse and as a result, he had to witness his second zero and had to return to Africa to start all over again.
After he moved back to Africa, he went on a spiritual journey to do something big and meaningful. It was then that he thought of the Crypto Talk radio station Banter, a 24/7 and 365-day YouTube channel. Interestingly, he launched this on YouTube, sat with friends, spoke about crypto, and helped others choose the right investment.
$134 Million Lost In 4 Days!
By 2022, he had invested more than 50% of his portfolio in LUNA, the popular stablecoin and LUNA-related projects. However, the good times soon ended with the LUNA crash, rendering him bankrupt, as he had lost a staggering $134 Million in just four days.
Neuner revealed that before the LUNA crash, he believed that LUNA would change the money. He had invested 50% of the portfolio in this crypto and referred to himself as filthy rich in the interview before zero. He disclosed that he was checking out yachts and private jets to buy and he had also bought many holiday homes.
The Biggest Regret!
But sadly, he lost everything in the crash. Nevertheless, his biggest regret he revealed was promoting LUNA in his community, which resulted in many following his footsteps, buying and losing money eventually.
He expressed that he was completely hopeless as his Luna was staked and there was no way he could have sold it. I couldn’t have gone shirt because the volatility was too crazy and the funding was absurd.
But it does not end just here. He had not only lost LUNA, but the broader market was also down which wiped out the rest of his investments. He stated that everything was down, including Bitcoin and altcoins, and he lost everything he had built in the last five years.
Greed Led To the Downfall
Going further, Raoul Pal asked an intriguing question as to “Why did Ran continue to invest more despite being filthy rich?” Ran admitted that Greed was the reason that made him follow the path. However, the main reason was his belief in the LUNA and how it would be the future of finance.
He revealed that he believed in no other crypto than LUNA, as he was sure of LUNA’s success more than Bitcoin and any other altcoins. Even while BTC’s price rose to as high as $73K, Ran’s trust was in LUNA, which left him in bankruptcy.
Neuner’s Changed Perspectives
He also revealed his biggest mistake noting that he was breaking all the rules of diversification, which suggests distributing investments in multiple assets. But now Ran Neuner lives by this rule and has never repeated the same mistake. At some point, he criticized Solana but has now become a pro supporter despite the Solana price drops in the market. Despite his beliefs in this crypto, he has never allocated such a high amount for a specific crypto.
LUNA was in its prime in 2022, trading around $119.18 before crashing to the ground, causing heavy losses for its investors. At the time of writing, the LUNA (LUNC) price is now $0.00007867 and shows no signs of recovery.
Putting all the eggs in one basket is undoubtedly very risky and this serves as a reminder that diversification of investments is crucial in these times of high volatility. Therefore, Do your own research and make well-informed decisions.
