Mike Novogratz, CEO of Galaxy Digital Investments, came to the fore when he got a tattoo depicting Terra (LUNA) on May 5. Cardano (ADA) inventor Charles Hoskinson reacted to this and said he didn’t understand why Terra was more popular with venture capitalists (VC). Here are the details…
Mike Novogratz came up with his LUNA tattoo
Known as a cryptocurrency billionaire, Mike Novogratz seems to have chosen Terra (LUNA) as one of his favourites. Because he engaged in an irreversible activity such as getting a tattoo. Of course, LUNA’s meaning for “moon” could also have been pointed out. Responding to Novogratz’s tattoo tweet, Hoskinson wonders why VCs and crypto media outlets don’t show Cardano as much love as other altcoins.
Cardano founder Charles Hoskinson, venture capitalists on the popular Blockchain network ( He lamented the harsh treatment over the years by VCs) and cryptocurrency media outlets. Hoskinson tweeted to express his frustration at the lack of support the Cardano network has received from VCs and media outlets since Blockchain’s inception in 2017. The Cardano inventor’s comments came less than a week after Mike Novogratz, CEO of Galaxy Digital Investments, shared a tattoo of his arm depicting the Terra (LUNA) cryptocurrency on May 5, 2022.
Cardano founder Hoskinson’s reaction was negative
Hoskinson initially did not care about development. It took about a week for LUNA to react to the follow-up trend reports that investors were losing a significant percentage of its value due to a lack of confidence in the project. Quoting Novogratz’s tweet earlier today, Hoskinson said:
I’ve always wondered why VCs and crypto media love some alternatives and hate Cardano. I just can’t understand…
Charles’ comments, the value of LUNA It came after seeing it drop from $69 to $24 in the last 24 hours. As we reported on cryptokoin.com, LUNA is trading around $34 on major exchanges and represents a 52.4% downtrend in the past day. Terra (Luna) took a heavy toll after its stablecoin UST tumbled to $0.66, causing panic and inflicting heavy losses on investors.
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