This is another sadden story again about someone that just supposed not to trade crypto and meme stocks. Trading and investment is not a get rich quick. Meme stocks trading is like gambling. Coins like bitcoin may be promising, but what if you invested at $50000, bitcoin price now at $30000. Bitcoin will get to all-time-high but not good to use the money that is not yours.
As for trading, not that it is not a get rich quick, but you should use the money that you can afford to lose. The man may wanted to return that money, but crypto and meme stock trading landed him in prison.
The former chief financial officer of a special purpose acquisition company (SPAC) was sentenced to three years in prison after embezzling $5 million, which he used to trade cryptocurrencies and “meme stocks.“
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Ex-CFO who stole $5M to trade crypto and ‘meme stocks’ gets 3 years in prisonWith $50,000, you can invest in the top 10 coins listed on CoinMarketCap. While there may be losses initially, I believe that investing in these coins now can lead to profits in 3 to 5 years.
Investing in MEME coin may also be a quick way to generate profits if you have extensive knowledge and expertise. However, high returns always come with high risks.