Crypto crash: A wake-up call – Forbes India

Crypto crash: A wake-up callIllustration by: Sameer Pawar

Akash Jain, a 34-year-old crypto investor and miner, is the true new-age investor. Investing full time in cryptocurrencies since 2015-16, he thought he spotted opportunity and invested nearly Rs 2 lakh ($2,600) into what had become a nearly worthless risky digital coin Luna, just before it got delisted at the major crypto exchanges. Luna was one of the digital coins that triggered a sell-off in the global cryptocurrency market which saw an estimated $2 trillion of losses in May.

The Luna coin, at the time of writing, remains temporarily delisted from global exchanges Coinbase and Binance and several Indian crypto exchanges including CoinSwitch Kuber and CoinDCX (where Jain holds Luna). Practically, Jain cannot exit from this trade and cannot do much until the coin is relisted.

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