Terra Investment Crashes

A story about how Shaan Puri invested in a cryptocurrency project called Terra/LUNA that went from being worth $750K to nearly zero while he was on vacation in Hawaii.

"I started with $25K, and then I had an opportunity to put in another $200K as part of a VC investment where we got to buy LUNA at basically a 40% discount to the market rate. At the time it was trading at almost $100, we got to buy it at just under $40, but it was locked up and would be released over several years.

My blended price was around $35. For a while it looked like a genius move because LUNA hit $116. My $250K investment grew to about $750K. I was on the beach in Hawaii when it crashed. I started getting texts from Ben saying 'Terra's depegging.' It went from 92 cents to 85 cents, then shot back up to 90 giving false hope for a second, then plunged to 65, 60, 50.

I couldn't do anything about it partially because my LUNA tokens were locked up and partially because I was away from my computer. I was literally on a beach and LUNA crashed to literally zero. For a day or two it kind of messed up my vacation.

I lost about $225K total. I told my wife 'from all of crypto we lost several million in the last 3 months' and she's like 'okay so I shouldn't buy this bag?' I said 'yeah, let's hold off on that.' That's the level of conversation we've had about the whole thing."