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
Crypto is the Wild West of finance. Where there are big potential gains there are huge potential losses as well, it the nature of the beast. You could lose half your bag overnight, as hard as that would be to swallow, it's crypto. What an idiot to kill himself over a crash, he probably had some other underlying problems. At any rate, destroy the Lambo in the process? That's just wrong...
Greed is a bad thing everywhere, and we see it too much here. Human nature at it's worst I suppose...
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Perhaps he may have had someone underlying problems, or not was assassinated, I don't want to actually believe he killed himself. I mean, sell the Lambo even if you crashed heavily and start up your life afresh. It's hard to believe a healthy and able-bodied man would take his life.
Movies have been made about traders killing themselves after the market crushed them...
Since some people in crypto begged Wall Street to get involved for years, now that it has, we should be careful about the shortcomings and bad habits of Wall Street being imported as well...
Sad day!
Yes, many people probably died today from suicide, probably liquidated and went through zero, it's wild. With Trump's involvement it's even become more erratic
Omor, crypto is not for the faint hearted. I saw the news and I was not surprised because many risk takers will be affected. Mastering emotions is very important in this system.
True, but it’s not just about mastering emotions - it’s about mastering position size. You can have ice-cold emotions and still get liquidated if you’re over-leveraged.
The real test isn’t staying calm during the crash. It’s sizing your positions small enough that you can stay calm.
Having been liquidated myself in the past, I'm more careful about using leverage. I think part of the problem is that some people win and win, especially in a bull market. They feel like geniuses and masters of their destinies. At least until their house of cards falls down.
It's a common story for successful traders to get sloppy and risk far more of their capital than they should. They grow overconfident with their success. They stop using the risk management skills that made them successful in the first place.
Agreeing in probably all points
This is the dark side nobody talks about. When you’re trading with 100x leverage, one Trump tweet can wipe out everything - including your will to live.
The Ukrainian billionaire story is tragic, but it highlights something important: position sizing matters more than being right. You can be the smartest trader in the room, but if you’re over-leveraged, one black swan event ends you.
Your rookie partner learning this the hard way is unfortunately how most people learn - through pain. The “Habibi lifestyle” crypto gurus never show the liquidation screenshots.
Risk management isn’t sexy, but it keeps you alive long enough to actually win.
Trump isn't good for the markets lol. I think he will continue such acts throughout his presidency. Leverage is really dangerous. With crypto as a volatile asset, holding spot is enough to capture the upside, especially on a long term perspective. I think it'll take a bit of time for her to process the losses, become calm again and get back to work.
The world stood still in the crypto market yesterday. The crypto guy's death is really a sad one, assets gone, life lost. Double loss.
With this dump, I hope people learn that crypto is not always cash and carry. But would they? I doubt, not when they want to make millions of dollars in one day.
They should continue, Trump is bound to happen again.
This is a very sad news, there might be thousands that will end up with high blood pressure, crypto is not for the weak especially with such huge amounts of money lost, the whole world yesterday couldn't help it but weep for their financial life
Crypto with trump at white house is a Russian rulette, today you are in green tomorrow you are bankrupt, it's not wise to rely on that now
Well said. The mental toll of trading is real. Many people treat crypto like a casino and forget about risk. Greed, emotions, and poor discipline destroy more people than the market itself.
Money is a tough issue, and I agree that it's rough when the market crashes. It's something that can happen at any point in time, and I hope you still get paid for your work.
Crypto is evolving but it is the people who need to evolve also 🙂🙃