{"id":157881,"date":"2022-05-19T18:52:42","date_gmt":"2022-05-19T18:52:42","guid":{"rendered":"https:\/\/precoinnews.com\/?p=157881"},"modified":"2022-05-19T18:52:42","modified_gmt":"2022-05-19T18:52:42","slug":"galaxy-digitals-mike-novogratz-says-his-terra-luna-tattoo-will-be-a-constant-reminder-that-venture-investing-requires-humility","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/galaxy-digitals-mike-novogratz-says-his-terra-luna-tattoo-will-be-a-constant-reminder-that-venture-investing-requires-humility\/","title":{"rendered":"Galaxy Digital&#039;s Mike Novogratz Says His Terra (LUNA) Tattoo Will Be a Constant Reminder that Venture Investing Requires Humility"},"content":{"rendered":"<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/Terra-LUNA-UST-crash-Do-Kwon-770x408.jpg\"><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>The Flash Crash of LUNA and UST Reinforces Four Tenets of Crypto Investing<\/h2>\n<p>In the letter, Mr. Novogratz pointed out that the downward pressure on LUNA&#8217;s reserve assets coupled with UST withdrawals triggered a stress scenario similar to what is traditionally known as a &#8216;run on the bank.&#8217; According to his analysis, the flash crash of LUNA and UST reinforced the following core tenets of crypto investing:<\/p>\n<ul>\n<li>Keeping a diversified portfolio<\/li>\n<li>Taking profits along the way<\/li>\n<li>Having a risk management framework<\/li>\n<li>Understanding that all investments happen in a macro framework<\/li>\n<\/ul>\n<p>Regarding the latter, Mr. Novogratz explained that the ongoing &#8216;global macro backdrop has been brutal for all risk assets this year.&#8217; He highlighted that the pullback experienced in the stock markets had found its way into crypto, thus affecting Bitcoin and altcoins, further compounding the situation that faced LUNA and UST.<\/p>\n<p>He said:<\/p>\n<blockquote>\n<p>Growth stocks with negative cash flow are down as much as 50-70% this year. Crypto has been under pressure, with core assets like BTC and ETH down about 58% each from all-time highs\u2013 and altcoins are down an average of 80% from all-time highs.<\/p>\n<p>Central bankers are in the early stages of unwinding a massive liquidity bubble \u2013 fueled by unprecedented fiscal and monetary policy injections into economies across the globe, including in the US \u2013 that had propped up all risk assets, including crypto.<\/p>\n<p>The \u201cfree money forever\u201d ethos of the last decade has left us staring in the face of the biggest bout of inflation since the 70s.<\/p>\n<p>Many assets that had meteoric rises in the period since Covid have suffered meaningful and correlated corrections. This macro backdrop put pressure on Luna and the reserves held to back UST.<\/p>\n<\/blockquote>\n<p>Source: <a href=\"https:\/\/en.ethereumworldnews.com\/galaxy-digitals-mike-novogratz-terra-luna-tattoo-will-be-a-reminder-that-venture-investing-requires-humility\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Flash Crash of LUNA and UST<\/p>\n","protected":false},"author":3,"featured_media":157880,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Galaxy Digital&#039;s Mike Novogratz Says His Terra (LUNA) Tattoo Will Be a Constant Reminder that Venture Investing Requires Humility - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/galaxy-digitals-mike-novogratz-says-his-terra-luna-tattoo-will-be-a-constant-reminder-that-venture-investing-requires-humility\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Galaxy Digital&#039;s Mike Novogratz Says His Terra (LUNA) Tattoo Will Be a Constant Reminder that Venture Investing Requires Humility - 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