A Ukrainian crypto billionaire allegedly took his own life after the crash that happened with the crypto market yesterday. It was reported that he died in his Lamborghini, as he was seen Inside.
Perhaps he took his life or maybe he was assassinated and it was made to resemble suicide no one knows particularly. However, I don't doubt that crypto can make people suicidal, mentally unstable or, hurt.
The person I work with lost over $8000 trading perps because she didn't realize a crash was coming.
Now she's feeling crushed, dejected and looking to deny me or my pay. Whether you're a degenerate or not, Crypto can hurt you badly, and it's absolutely worse for people who are trading perps without being skilled enough, people who have a gambling mentality or those who actually wants to magically x10 their money, these people can experience the full wrath of the market, especially with someone as Donald Trump sitting in the white house.
Just an announcement of tariff war, and the market dumps, Maybe it's Afghanistan fighting Iran, the market dumps. It's been completely unstable since Trump took over the white house, and I'll be foolish to be an inexperienced trader and still a degen at the same time.
I wouldn't know why this guy killed himself, but he might have probably used 100% of his network or something like that on a trade, and got liquidated by Trump's announcement. A lot of people are gamblers in the crypto space.
They want to x1000 their network in a short period and then they end up taking countless risks in an attempt to do so, and then they badly get liquidated. I know that it's impossible to win if you don't take risks, and I understand that it's hard to win big without these risks, but let's take a look at the downside: depression, suicide and mental illness.
For example, I have a rookie trader as a business partner, she's more interested in perps, and after got completely liquidated yesterday, she started acting erratic and depressed. Her attitude already is bad for business, it makes her unstable and unfit, makes her say the wrong thing, why?
Because she lost a lot of money. Greed is a cancer is crypto, and with someone as unstable as Trump, people should understand that trading perps is very risky because of how economic and political news powered by the most powerful countries in the world can affect market sentiment.
However, we are in a crypto space where gamblers are parading themselves as crypto Gurus and investors. A lot of them are chilling in Dubai, living the "Habibi lifestyle". For me, I think this is the last dump we might see before the biggest dump, somehow it just feels like, but before then, a lot of people are probably dead today because of yesterday's liquidation