Barry Silbert feels bad for people who have lost money this week.

Barry Silbert told people who lost money in the crypto meltdown that he felt sorry for them and gave them advice. On Saturday, the founder and CEO of Digital Currency Group, who is known for investing in cryptocurrencies, told investors that he understood how they felt.

On Twitter, Barry said that everyone had a hard week. He also said that it’s sad to hear about suicides. Barry said that he lost everything in the dot-com bust, but life goes on, and people will find a way to save again.

Over the past six months, it has been hard to be an investor in cryptocurrencies. A number of things are happening at once that are shaking up the stock, bond, and cryptocurrency markets. Some of these factors are unstable markets, falling asset values, rising interest rate yields, and high inflation. Barry tells people who have lost money to learn from it since he has done the same thing. Barry just tweeted that he had been thinking about buying Dogecoin, which is a cryptocurrency based on a meme.

Barry Silbert wasn’t the only rich person who was hurt.

Since November, the price of bitcoin, the most well-known coin in the cryptocurrency world, has been going down. Also, the value of so-called “stable coins” has been going down. The loss of value of the stablecoin was harder to understand. People thought they were safe and secure because they were tied to the dollar and watched by exchanges. However, they have also been going down.

There was a lot of promise in stablecoin. Its stock value was going up so quickly. It gave people hope to the point that the US government was making plans for a uniform way to use it. Senator Yellen said that she hoped that laws about stablecoins would be passed early next year.

Last week, the price of bitcoin dropped to a level that hadn’t been seen in ten months. Also, between January and March of 2022, sales of non-fungible tokens, or NFTs, fell sharply.

People affected by the disaster, which is occurring concurrently with a larger drop in the stock market, range from crypto-giant oligarchs who run top exchanges such as Coinbase COIN, +16.02 percent, and Binance to regular people who have invested all of their money in digital currencies.

The Winklevoss twins and other crypto moguls are feeling the heat, according to a story in the New York Post. In the past few weeks, a big drop in the stock market has hurt their finances a lot.

The loss of LUNAUSD tokens was fatal.

One of the most-read posts on Reddit about Terra Luna, a cryptocurrency whose value has dropped by more than $450,000 in the past week, says:

“I can’t pay the bank back because I’ve lost about $450,000.” I’m going to be kicked out of my house soon. I have no choice but to live on the streets. I have no choice except to commit suicide.”

“My former coworker tried to kill herself” is also one of the most popular posts on the forum. You could say, “In 2021, he put almost all of his money into cryptocurrency, and LUNA was a big part of his portfolio.”

So far, the 26% drop in the value of Luna’s LUNAUSD token is a huge loss. But the prices of other cryptocurrencies are also going down. Bitcoin BTCUSD was worth around $28,300 as of Thursday afternoon, up 1.10 percent.Since last week, the price has dropped by 20%.Also, BTC’s price is down about 60 percent from its all-time high of $69,000 in November 2021.

Other important cryptocurrencies, such as ETH and Solana SOLUSD, +1.00 percent, are only worth a fraction of what they were at their peaks.

CoinMarketCap says that the total value of the cryptocurrency market has dropped to $1.2 trillion. At $2.9 trillion, the value is still less than half of what it was in November.

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