What about luna, the Tencent girl who earned 13 million from a capital of 220,000 yuan?
The cause of the incident was the death spiral collapse of a cryptocurrency called LUNA, which fell from a price of nearly $100 to 1 cent in less than a week.
There was a young girl who worked in a large Internet company. With a principal of 220,000, she made a whopping profit of 13 million during the LUNA slump and literally became rich overnight.
It is said that she bought 20 times her short position, which means that if LUNA were to increase by just 5% she would face liquidation. As a result, LUNA plummeted 99.9999% and she made a whopping 60x profit, and these. The profits were pocketed.
Why did LUNA collapse so completely? This starts with its sister cryptocurrency UST.
Those of you who know something about cryptocurrency investing should know that many trading platforms do not support the direct use of RMB or US dollars to buy cryptocurrencies such as Bitcoin and Ethereum. Trading between fiat currency and cryptocurrency must be done by purchasing a medium currency called a "stable currency".
UST is a stable currency and the 3rd most stable currency in the world by market value. UST is pegged to the US dollar and 1 UST is equivalent to 1 US dollar.
