Ran Neuner, the Co-founder and CEO of Onchain Capital, is a prominent personality in the crypto industry. He is known for launching the first televised cryptocurrency show, Crypto Trader, on CNBC in 2017. Ran had a degree in finance and learned marketing, where cryptocurrency appealed to him in 2015. Not only did he make millions of dollars in his investment, but he created a brand to help others to do the same. Still, one incident, the LUNA crash, had left him in bankruptcy, and the CEO revealed the whole story recently.
Ran Neuner’s Journey From Millions To Zero
Raoul Pal, the CEO of Real Vision, recently interviewed Ran Neuner for a YouTube video, revealing his life story around his bankruptcy and how the LUNA crash played a major role in his downfall and resurge.
The Onchain Capital CEO has been a part of the crypto industry since 2015. He started as a crypto investor and made heavy profits despite the earlier bear runs. Thanks to a geeky friend, he was introduced to Bitcoin, which became his whole career in the future.
Ran Neuner had reached zero three times in his career. The first time was when he started a tech business (.com bubble), which eventually failed. Second, when he started a marketing company and made millions after selling it, but reached zero after he shifted to New York from Africa to make big in crypto trading. He called New York a concrete jungle, as many also refer to it. Instead of making money, the bear run hit, and with COVID-19, things went worse. As a result, he achieved his second zero and had to return to Africa to start again, as he was depressed.
He shifted back to Africa and went on a spiritual journey to do something big and meaningful. That is when he thought of the Crypto Talk radio station Banter, a 24/7 and 365-day YouTube channel.
He launched this on YouTube, sat with friends, talked about crypto, and helped others choose the right investment. By 2022, he invested more than 50% of his portfolio in LUNA, the popular stablecoin and LUNA-related projects. However, bad times knocked on the door with the LUNA crash, leaving him bankrupt and on zero again as he lost $134 Million in four days.
LUNA Was Going To Change Money
Before the LUNA crash, the Onchain CEO believed LUNA would change the money. He had invested 50% of the portfolio in this crypto and referred to himself as filthy rich in the interview before zero.
During the interview, Ran Neuner revealed that he was eyeing yachts and private jets to buy at this point and had bought many holiday homes.
But he lost everything in those four days of the crash. However, his biggest regret is promoting the LUNA in his community, which led to many following his buying and losing money eventually.
I was completely hopeless because my Luna Was staked so there’s no way I could have sold it. I couldn’t have gone shirt because the volatility was too crazy and the funding was absurd.
Not only had he lost in LUNA, but the rest of the market went down, wiping out the rest of his investments. He revealed that everything was down, including Bitcoin and altcoins, and he lost everything he had built in the last five years.
Greed Became The Downfall For Ran Neuner
During the interviews, Raoul Pal asked a very interesting question. “Why did Ran continue to invest more despite being filthy rich?” To which Ran answered that Greed was the reason that made him continue on this path. However, this was not the main reason. The main reason was his belief in the LUNA and how it would be the future of finance.
He revealed that he believed in no other crypto than LUNA, as he was sure of LUNA’s success more than Bitcoin and any other altcoins. Bitcoin is the biggest cryptocurrency in the market, with BTC price rising to as high as $73K, but Ran’s trust was in LUNA, which left him in bankruptcy.
He revealed his biggest mistake was breaking all the rules of diversification, which suggests distributing your investments in multiple assets. But now Ran Neuner lives by this rule and has never repeated the same mistake. At some point, he criticized Solana but has now become a pro supporter despite the Solana price drops in the market. Despite his favoritism or beliefs in this crypto, he has never allocated such a high amount for a specific crypto.
Final Thoughts
LUNA was in its prime in 2022, trading around $119.18 before crashing to the ground, causing heavy losses for its investors. At the time of writing, the LUNA (LUNC) price is now $0.00007867 and has no signs of recovering to the same. Ran Neuner, the OnChain Capital CEO was among many victims, losing $134 Million in the LUNA crash, as more than 50% of his portfolio was in this crypto. He recently appeared on the Paoul Pal The Journey YouTube video, where he revealed his life journey with three major events, leading to bankruptcy and rising back in the industry.
The post OnChain Capital CEO Ran Neuner Revealed Losing $134M In 4 Days With LUNA Crash appeared first on CoinGape.
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