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2024/09/04 19:07

Onchain Capital CEO Ran Neuner Reveals Lessons fro

In a recent YouTube interview, Raoul Pal, CEO and co-founder of Real Vision, sat down with Ran Neuner, a well-known figure in the crypto world. They discussed Neuner’s dramatic journey, which included a brush with bankruptcy and how the LUNA crash played a crucial role in both his downfall and eventual comeback.

Here’s all you need to know.

Early Days in Crypto: A Bumpy Start
Ran Neuner, CEO of Onchain Capital, has been involved in the crypto industry since 2015. He started as a crypto investor, making substantial profits despite early bear markets. A tech-savvy friend introduced him to Bitcoin, and that moment set the course for his future career.

However, Neuner’s path was far from easy. He recounted how he hit rock bottom three times. The first was during the dot-com bubble when his tech startup failed. He then found success with a marketing company, earning millions after selling it. But after moving from Africa to New York to dive into crypto trading, he faced another setback.

Describing New York as a “concrete jungle,” he explained how the COVID-19 pandemic worsened his situation, leading to his second financial collapse and forcing him to return to Africa.

Starting Over: The Birth of Crypto Banter
Back in Africa, Neuner embarked on a spiritual journey, looking to create something meaningful. This led to the creation of Crypto Banter, a 24/7 YouTube channel focused on cryptocurrency investments. Launched with a few friends, the channel quickly gained a following, helping others navigate the complex world of crypto.

By 2022, Neuner had invested more than half of his portfolio in LUNA, a once-popular stablecoin, and LUNA-related projects. But when the LUNA crash hit, it wiped out $134 million of his investments in just four days, leaving him bankrupt.

The LUNA Crash: A Costly Lesson in Risk
Before the crash, Neuner was confident that LUNA would revolutionize finance. He had invested 50% of his portfolio in the cryptocurrency and described himself as “filthy rich.” He was even considering buying yachts and private jets and had already purchased several holiday homes.

However, the crash erased his wealth. His biggest regret? Promoting LUNA to his community, which led others to follow his example and suffer similar financial losses. Neuner admitted feeling hopeless, as his LUNA holdings were staked, leaving him unable to sell during the crash.

Losing It All
The LUNA crash was just the beginning. The broader crypto market also plummeted, wiping out the rest of Neuner’s investments.

Raoul Pal then asked, “Why did Ran continue to invest more despite being wealthy?” Neuner honestly replied that greed played a role, but his strong belief in LUNA as the future of finance was the main reason.

Learning the Hard Way
Neuner’s faith in LUNA was so strong that he prioritized it over Bitcoin and other altcoins, even when BTC reached $73K. This focus on a single asset led to his financial downfall. Looking back, Neuner acknowledged breaking the key rule of diversification, which advises spreading investments across multiple assets. Now, he follows this principle strictly, ensuring he never repeats the same mistake.

While he once criticized Solana, he is now a supporter but with a more cautious and diversified approach.

At its peak in 2022, LUNA was trading at around $119.18 before crashing to near-zero, causing huge losses for its investors. As of now, LUNA (LUNC) is priced at $0.00007867, with no signs of recovery.

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