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Metaverse Game CEO Loses $2 Million In Bad Trades
In its alpha stage, the chief executive officer of Ragnarok, the multiplayer metaverse RPG,
Acknowledged that the company lost more than $2 million in company funds due to trading in the latest cryptocurrency crash.
In a rare display of openness, the CEO has publicly revealed the project's expenses and earnings,
Revealing a significant pay gap between the founding members and the rest of the team.
Ragnarok's CEO, who goes by the name of Fanfaron, had stated in Substack that he committed
"mistakes when he bought ETH (Ethereum) several times in the belief that it was a good investment for the venture."
"Then, to reduce the risk of a downturn and in the hope of a return to investing at a later date, I sold our investm
ent in ETH several times.
This resulted in approximately 1.827M in losses." Fanfaron stated. I can't guarantee that we will not make mistakes in the future, as we all make mistakes.
However, I can promise greater transparency and that we will always behave in good faith for the community and the project."
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