The lending markets are all automated with smart contracts. If you have the collateral you get the loan. If it goes sideways you get liquidated. The end.
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iād bet good money he is worth at least 8 figs right now.
just as some people made terrible bets, some made really good ones. he might even be good at trading.
So itās basically verified that he had at least $100M at one point, which he could have liquidated to cash if he wanted, and then lost it?
Obviously he still has some money. Iām just trying to get a handle on what is 100% known.
I think you guys underestimate how many people have made insane money through crypto. Timex guessed 25k people cleared 8 figs.
8 figs could be $10M. $100M would put him at the tippy top Iām guessing?
All we really know is that he made about 300,000 or so betting on Trump. Itās hard to imagine him being in crypto the past five years and not being worth 8 figs, but anything is possible.
He was earlier and more correct (and more degen) than most though.
Yeah Iām not arguing against that at all. Just trying to ascertain what we know for my own curiosity. Iām still unclear if he could have legitimately walked away with $100M if he wanted to.
I mean I donāt have exact numbers. But just using some basic assumptions would be willing to lay like 5:1 the answer is yes.
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Archie Karas could have walked out of Binionās with 60 mil, but if he was the type of person with the ability to walk away with 60 mil he never would have run it up to 60 mil in the first place
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Yep, totally understood. The amount of money itself is the interesting part to me.
Does this leaderboard include NFTs, all coins, and everything?
i donāt follow awice closely and donāt know when or what he lost, but being highly bullish (aka pumping) solana in mid 2021 could have easily got him back whatever he lost
This is just profit from trading. It doesnāt include nfts or any coins heās holding in storage.
https://www.coinbase.com/price/solana
Looks like 10x from May to peak? Somehow I was thinking more the way you described it.
DAM
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I could walk away if I made 60 million in crypto, but I donāt think Iām the kind of person who would have ever run it up to 60 million in the first place. And maybe that means I should look at crypto with detached academic curiosity rather than a desire to be a participant.
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This tweet is great because he posted it May 11 which was basically the last day before the big drop
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