Some investors wear their failures like a badge of honor, but for crypto billionaire VC Mike Novogratz, it's more like a tattoo—literally. On Wednesday, crypto-focused venture capital firm Galaxy Digital posted a letter from CEO Novogratz discussing its investment in the now-dead Luna/Terra ecosystem, which imploded spectacularly last week when its algorithmic stablecoin UST cratered, wiping out Luna's $40 billion market cap. In the letter Novogratz reflects on macroeconomic conditions and how they’ve affected crypto markets, but still maintains to be bullish on the volatile asset class despite envisioning dark days ... (full story)