(Natural News) People who lost everything in Terra (UST) and Luna are now contemplating suicide after having their lives ruined by more cryptocurrency scams.
On Reddit, one person wrote that his friend and ex-manager of 15 years tried to commit suicide after moving basically all of his life savings to crypto in 2021.
“… Luna was a massive player in his portfolio,” this person wrote.
Many other posts just like this one began appearing on the social media platform after the two “stablecoins” lost almost all of their perceived value in less than a week.
The Sun reported that after Terra Luna, one of the top 10 most valuable cryptos in the world, lost 98 percent of its value overnight, an investor who put in more than $450,000 lost everything.
“Incredibly, the dramatic collapse occurred in the space of just 24 hours with its market cap spiraling from above $40 billion to just $500 million,” the news outlet reported.
This person, who also posted on Reddit, revealed that he “lost over $450,000” and “cannot pay the bank.”
“I will lose my home soon,” he wrote. “I’ll become homeless.”
Is anything on this Earth really stable?
These are just a few stories among many that appeared across social media as crypto investors woke up shocked to see blood-red portfolios.
Another person claimed to have lost $15,000 after failing to sell his holding last month when Terra Luna was trading above $100 per coin.
“I should’ve cashed out when it was $100, then I would have been up $25,000,” this individual explained.
“But I got greedy hoping to get more money so I can at least afford a down payment for a house for my family. I guess no house and savings then.”
Someone else who “lost around $5000” said this was “all my life savings” now down the drain.
This person says he purchased Terra Luna with “all I had” when it was priced at $85. Now it is basically worth $0.
The collapse occurred as Terra lost its peg to the U.S. dollar, which was supposed to remain stable (hence the name stablecoin). When this occurred, a massive selloff ensued, causing the coin to lose 99 percent of its value.
The crypto exchange Binance temporarily suspended withdrawals on the Terra (LUNA) network at one point during the collapse, and now the coins are essentially worthless.
“It meant that even those who wanted to sell were unable to cash in last minute as the price went into free fall,” the Sun explained.
Do Kwon, the founder of Terra and Terraform Labs, tweeted after the demolition that he and his team are “close to announcing a recovery plan for $UST.”
Other more popular coins such as Bitcoin and Ethereum also took a big tumble – basically all of the crypto world did – but are now slightly recovering.
All of this just goes to show that nothing is truly stable. Crypto is not stable, nor is fiat currency. Even hard assets have become volatile in relation to the shifting value of “money.”
It turns out that earthly possessions are fleeting, and these crypto collapses are just another example of that. This is why some have chosen to store up treasures in heaven rather than here on Earth.
“Imagine putting your life savings in a shaky market and banking on huge (unsustainable) returns,” wrote someone on Reddit in response to the suicide story.
“It’s like going to the roulette table with your life savings, except you statistically stand a better chance picking the exact right number there than you do the right coin or stock.”
A new database of over 120,000 emails from Hunter Biden’s laptop has been released by a former Trump aide this week.
128,775 emails were uploaded to BidenLaptopEmails.com, a searchable database by Garrett Ziegler, a former aide to Peter Navarro in Donald Trump’s Office of Trade and Manufacturing Policy, uploaded through his organization Marco Polo.
“Here are the 128k emails from the Biden Laptop, which is a modern Rosetta Stone of white and blue collar crime under the patina of ‘the Delaware Way,’” the site said, referring to a term often used by Joe Biden for bipartisanship in his home state, which has since become a euphemism for elite corruption.
“Prior to the discovery of the Rosetta Stone, a number of ancient languages were mere gibberish and hash marks. Similarly, the emails on the Biden Laptop illuminated previously convoluted webs of the people you see leading the charge for global governance; truly, the emails can be considered a translation tool for Open-Source Intelligence (OSINT) gathering.”
“We do not condone, encourage, intend, or have any knowledge that any other person will or may use the information herein for any unlawful purpose. Marco Polo’s motive is to see justice delivered—to all criminals—by those whose responsibility it is to carry out that duty.”
Many of the emails from Hunter’s laptop have already been covered by the likes of the New York Post and the Daily Mail in the weeks before the 2020 presidential election, but many more are now searchable for public investigation.
The process moves slowly but is a critically important element of the trial.
From 200 potential jurors called to appear in Katherine Magbanua’s retrial for her alleged role in the 2014 murder or Dan Markel, prosecutors and defense attorneys selected about 60 on Tuesday to interview in greater detail.
One by one, Judge Robert Wheeler asked jurors to disclose if they had any personal relationships with individuals listed as witnesses, and from there, prosecutor Georgia Cappleman and defense attorneys Tara Kawass and Chris DeCoste took turns asking more pointed questions.
Cappleman’s questions related to people’s backgrounds, including experiences with the justice system and crime, while the defense wanted to know if jurors expected his client to take the stand and reminded jurors that their job is to presume her innocence unless proven otherwise.
Of the initial 21 who were individually questioned, 13 were excused. Another batch was brought in, and as of 4:45 p.m., the legal teams were still deciding which jurors would remain. But by 5:30 p.m., final jurors were selected.
“Seven men, seven women selected,” tweetedJeff Burlew with the Tallahassee Democrat.
“We officially have a jury in Katherine Magbanua’s retrial. Jury selection took a full two days,” tweetedJada Williams of ABC27.
The process moves slowly but is a critically important element of the trial. Opening statements are expected to begin Wednesday morning.
In the meantime, here’s a few things to think about.
Prior jurors spoke out, perhaps influencing what attorneys are focused on this time
In 2019, Magbanua’s trial ended in a hung jury, reportedly with a vote of 10-2 in which one juror was particularly opposed to conviction. At the same time, Magbanua’s co-defendant Sigfredo Garcia was convicted of first-degree murder and sentenced to life.
What was on jurors’ minds as they deliberated? Which pieces of evidence were most compelling, and how did they perceive the credibility of various witnesses?
Sometime after the trial, two jurors spoke, including one who voted against conviction, and one who was frustrated by this outcome. You can hear their accounts here and here.
Witness lists clarified
Jurors will hear testimony from dozens of witnesses, including multiple officers with the Tallahassee Police Department, FDLE, and the FBI; neighbors who had heard the gunshot and encountered Dan Markel immediately after he was shot; a surgeon and the medical examiner; friends of Magbanua and her co-defendants; Luis Rivera, who confessed to his role in the murder and shared why they did it and how they were paid (in stapled cash); Markel’s ex-wife Wendi Adelson, who Rivera claims the murder was done on behalf of; Charlie Adelson’s ex-girlfriend, who in prior statements attested to Charlie’s safe full of stapled cash; former employees of the Adelson Institute, where Magbanua claims to have worked; a local man who encountered Garcia and Rivera during their two visits to Tallahassee and who “believe it!” was a fan favorite during the 2019 trial, if there is such a thing; and many more.
What’s as notable as who is on the witness list is who is not. In January, Magbanua’s defense team added four members of the Adelson family to their witness list — Charlie, who is now incarcerated and accused of Markel’s murder; Wendi and Donna — who were both named as co-conspirators by the state but who have not been arrested; and Harvey, the patriarch. While Wendi will appear as a state witness and will be given the limited immunity that such a subpoena confers, no Adelson family members will appear as a defense witness. All would be expected to invoke their Fifth Amendment rights, which is improper for a jury to hear.
Internet chatter ramps up
The Markel murder has been a hot topic for eight years in online circles, with engagement ramping up on Twitter with various hashtags including #danmarkel and #justicefordanmarkel, and on WebSleuths, Facebook, and increasingly, on Reddit.
One frequent commenter, Fanci Fiction, makes art out of tragedy and engages with case watchers on Twitter. Why? The answer may be simple. According to the channel’s YouTubebio, “Murder is wrong.” And on Twitter, “Y’all mind if I hate murder?”
Fanci Fiction’s videos hit across the board, with themes on Magbanua defense strategy; key pieces of intrigue or evidence such as Charlie’s peculiar use of stapled cash; code words used by conspirators; Wendi Adelson’s decision to change the last name of Dan’s children from Markel to Adelson, her drive-by the crime scene, and her bizarre inability to spell “Jibbers” on the stand despite having had Markel stored in her phone under that name; Charlie’s phone call with the undercover FBI agent; and more.
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Florida Politics is providing daily coverage of Magbanua’s retrial for the 2014 murder-for-hire of FSU law professor Markel. The case has drawn international media attention to Florida’s capital city, and we’ll share with readers the top things to watch for and discuss as proceedings unfold. Our reporting will draw from many sources, including contributor Karen Cyphers of Sachs Media, who with attorney Jason Solomon advocate with the grassroots group, Justice for Dan, to draw attention to this case and provide analysis of relevance to Florida’s political, advocacy, and legal communities.
‘Frankly, the litigation landscape in Florida is making it untenable for some of these (reinsurance) investors to agree to allocate capacity to Florida.’
Three different property insurance companies asking state regulators to approve rate increases cited similar reasons during hearings Tuesday: more roof claims, higher reinsurance costs and the threat of more lawsuits related to the jump in claims.
“We’ve seen many more roof claims with much higher costs,” said Florida Farm Bureau Insurance Company vice president Ben Kimmons.
Florida Farm Bureau is asking the Office of Insurance Regulation to approve a 48.7% rate increase for its 63,135 residential property insurance policies. The vast majority of those policies, 62,169, are homeowners policies.
The company has two types of coverages, standard and preferred. If regulators approve the request, the 23,906 standard policies would see a statewide average increase of $1,200 per year in their premium, up to $3,701. The 38,263 preferred policies would see an average annual increase of $952, to $2,867.
Kimmons said the company is planning to cancel 7,600 policies with roofs older than 20 years as roof-related claims have soared in the last three years.
The complaint is a familiar one for lawmakers, who are poised to return to the Capitol next week for a Special Session aimed at stabilizing the property insurance market. Two companies have gone bankrupt, four have announced plans to cancel more than 120,000 policies, other insurers are seeking large rate hikes and one ratings agency has said downgrades are possible for some companies if lawmakers don’t take action this summer.
Gov. Ron DeSantis called lawmakers back to address some of the issues affecting insurers, including roof claims and litigation expenses.
But previous attempts by the Legislature to solve issues driving up claims and costs might not be having the intended effect.
Regulators asked executives with some of the companies to explain how legislation passed two years ago attempting to reduce the practice of assignment of benefits, or AOB, where a homeowner will sign their claim benefits over to a contractor who will do the repairs and work the claim with the insurer, is affecting their rates.
Many said the law is having little effect or it’s too early to say.
Bob Aaron, vice president of personal insurance product management at First Floridian Auto and Home Insurance Company, said lawyers and roof contractors are finding ways to get around the AOB law. That means they’re unlikely to take advantage of a provision allowing companies to offer lower rates to customers who take policies prohibiting the assignment of benefits.
“It may just wind up in a premium drain as you will have similar sets of customers being represented,” Aaron said.
First Floridian is seeking a rate increase of 23% for its homeowners policies. For its 10,180 customers with preferred policies, they’ll see an average $352 rate increase, to $1,913, if the rate hike is approved. The 3,097 homeowners with standard policies will receive an average rate hike of $440, to $2,258.
Another factor in higher rates is reinsurance.
Angel Conlin, CEO of KIN Interinsurance Network, said many reinsurers simply don’t want to enter the Florida market.
“Many of the concerns we’re hearing is, frankly, the litigation landscape in Florida is making it untenable for some of these investors to agree to allocate capacity to Florida,” Conlin said.