Billionaire who supported Luna 'shut up' after the incident

 Billionaire Michael Novogratz stopped tweeting since the Luna and UST cryptocurrencies fell sharply, despite continuously promoting this project.




Michael Novogratz is the CEO of Galaxy Digital, an investment fund that has poured $25 million into Terraform Labs. However, followers of this billionaire discovered that he had stopped posting messages on Twitter since this project became a disaster on May 9.


On the personal page of more than 460,000 followers of Novogratz, the latest post is on May 8, although he is considered to be quite active on social networks. According to Bloombergs statistics, Novogratz posted 60 articles in January, more than 50 articles in February and March, more than 30 articles in April. By May, he was still tweeting regularly every day until May 8.



Novogratz's silence is believed to be related to the demise of cryptocurrencies like Luna and Terra's UST. This billionaire is one of the biggest supporters of the project and founder Do Kwon, and constantly shows off the profits from investing in Luna.


"I will howl at the moon to thank Luna for giving me something to pay the bills," Novogratz wrote in November 2021. Earlier this year, he continued to show off a picture of a dog with the introduction that it was purchased with the profit from the investment of Luna. He even posted a picture of his arm tattooed with the words "Luna" along with a thank you to Kwon on Twitter.As an influencer in the crypto market, Novogratz's public support is one of the reasons why users are interested in Luna and UST. Novogratz's $25 million investment in February 2021 has doubled the price of Luna cryptocurrency. So, after UST ceased to be a "stablecoin" and Luna lost almost 100% of its value, Novogratz became the most notable figure after founder Do Kwon.

"Exposure to a ponzi is bad. But if you tattoo that ponzi on your skin for the rest of your life, it would be both bad and horrible," quipped user McKenna.

Novogratz's side has not yet explained the billionaire's silence. On May 9, when the Luna disaster was just beginning to break out, Novogratz told Bloombergs that “the crypto market is going to be volatile and difficult,” admitting that algorithmic stablecoins like UST “are a real test of time.” big". A few days later, Galaxy Digital announced an expected loss of $300 million this quarter.

Novogratz's move is in contrast to CZ - the founder of Binance. CZ has also published many articles about the cooperation of Binance and Terra. After the incident, he actively shared his views and solutions to Luna and UST investors, even harshly criticizing founder Do Kwon.

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