When it comes to the most "storied" figures in the crypto world, Do Kwon is definitely one of them. A $40 billion project, turned into thin air right before our eyes. Prosecutors are starting negotiations at 12 years, and his lawyer quickly interjects: "Hey man, can we not do this? Is 5 years enough? That Montenegrin prison is already wearing our guy down."
The judge calmly flips through the case file: "Alright, let me also take a look at that 40-year sentence from Korea, just so I don't go easy and he has to serve extra time back home."
At this point, the crypto community is amused—stablecoins can't be relied on, and neither can people's fates. This is the real-life version of a "black swan" event.
Turning back to the market. On the Ethereum chain, those celebrity-following meme coin projects keep replaying the "get rich overnight" game under low gas costs. Low entry barriers and high volatility mean there are both opportunities and pitfalls. Some people are lying in wait, others get caught holding the bag. And so the cycle repeats in this space.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
18 Likes
Reward
18
5
Repost
Share
Comment
0/400
TokenomicsTrapper
· 12-09 11:27
Do Kwon going full international jail tour speedrun is actually peak entertainment ngl. watched liquidations like netflix watching this guy's entire empire get yeeted. Luna validators probably still cope-posting about "rebuilding" somewhere lmao
Reply0
CryptoFortuneTeller
· 12-09 06:45
Do Kwon, this dude, really turned fleecing retail into an art form
I was in that Luna wave too—still sleepwalking
Meme coins are a rush, but you’ve gotta be fast or you’ll end up a bagholder
Stablecoins? Ha, what a joke—might as well be a degen’s lottery ticket
Montenegro prison edition, guaranteed premium, haha
ETH gas is cheaper now, and these folks are even crazier—going full FOMO
Low barrier, high returns—it sounds as good as a scam, right
Got rekt this round once; now I dodge meme coins on sight
That’s the space: some strike it rich, others keep buying the dip till they lose their shorts
View OriginalReply0
CommunitySlacker
· 12-09 06:39
This whole Do Kwon thing is unreal—400 hundred million gone just like that; now that’s a real rug pull.
I was dying at that exchange between the lawyer and the judge; the “Montenegro prison patina” gag was solid.
Meme coins are just gambling now; the low barrier, high returns pitch is a scam.
You can’t rely on stablecoins or on people—that’s just how the crypto space is.
Those lying in wait are just hoping for the next "Do Kwon" to show up.
View OriginalReply0
WhaleStalker
· 12-09 06:38
Do Kwon really taught the crypto world a lesson—$40 billion just vanished like that, I laughed so hard I cried.
I actually got trapped in that Luna wave, and now I have to think twice about every Meme coin. Low gas fees can be a trap.
Stablecoins and life itself—neither can be fully trusted, that’s spot on.
FOMO projects are really a pitfall. The difference between getting in early and getting stuck is just a single thought.
This is just everyday life in crypto—some win, some lose, and the cycle repeats.
View OriginalReply0
BlockchainGriller
· 12-09 06:34
Do Kwon is really something, turning 40 billion into a joke.
That Luna fiasco—I still haven’t recovered from it.
Low gas fees on Gate and playing with meme coins is no different from gambling, you’ll have to pay the price sooner or later.
Everyone wants to get rich overnight, but in the end, everyone gets rekt.
Jail time turned him greasy, haha, that’s the perfect description.
On the ETH chain, there are more pitfalls than opportunities.
Anyone who’s been bagged knows that feeling—never want to go through it again.
Stablecoins can’t be trusted, and people even less so—no argument there.
Watching someone else’s story is just learning from their mistakes.
High volatility = high risk, everyone knows it but just can’t resist.
#ETH走势分析 $BTC, $ZEC, $LUNA
When it comes to the most "storied" figures in the crypto world, Do Kwon is definitely one of them. A $40 billion project, turned into thin air right before our eyes. Prosecutors are starting negotiations at 12 years, and his lawyer quickly interjects: "Hey man, can we not do this? Is 5 years enough? That Montenegrin prison is already wearing our guy down."
The judge calmly flips through the case file: "Alright, let me also take a look at that 40-year sentence from Korea, just so I don't go easy and he has to serve extra time back home."
At this point, the crypto community is amused—stablecoins can't be relied on, and neither can people's fates. This is the real-life version of a "black swan" event.
Turning back to the market. On the Ethereum chain, those celebrity-following meme coin projects keep replaying the "get rich overnight" game under low gas costs. Low entry barriers and high volatility mean there are both opportunities and pitfalls. Some people are lying in wait, others get caught holding the bag. And so the cycle repeats in this space.