Galaxy Digital CEO, one of the most recognizable proponents of the LUNA token, has finally broken his silence.
Quiet on Twitter last week, Novogratz stated that he is busy thinking about the economy and the cryptocurrency industry.
In a letter to the company’s shareholders, Novogratz said that the UST stablecoin was a “big idea that failed.”
Novogratz stated that Galaxy Digital invested in LUNA in the fourth quarter of 2020. The CEO also proudly showed off his tattoo dedicated to LUNA in January. However, after the crash, Novogratz became the subject of ridicule within the crypto community.
“My tattoo will be a constant reminder that venture investing requires humility,” said the famous billionaire.
LUNA’s value rallied as high as $118 before heading into an overall decline. Novogratz attributed the token’s collapse to unfavorable global market conditions.
The billionaire advised investors to build a diversified portfolio of crypto assets.
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