I have read many news that someone will mismanage people's money. I read one about a university student some years ago that gambled with the money contributed by his course mates. The main reason that is causing the money mismanagement is either trading or gambling, but I read more about gambling online. Some can be because of other reasons.
There is another one that I read today that people thought he ran away with people's money but he later confessed that he lost it to gambling. It is about a solana-based cypher developer, he confesses that he lost $300K of user funds to gambling.
The core developer of the Solana-based cross-margin decentralized exchange (DEX) admitted his wrongdoing in a public statement shared in a May 14 X post:
“To address the elephant in the room, the allegations are true, I took the funds and gambled them away. I didn’t run away with it, nor did anyone else.”
His statement on X:
https://x.com/hoakbuilds/status/1790434490877129007https://docs.google.com/document/d/10ta9quGGrmTNE1Pi7MlgLgSx9zxEqQdkbBfis1pmHrM/mobilebasic Rule of thumb, if it's money taken from friends, taken from credit, or taken from loved ones, it's not your money, and you have no rights spending it, even if these people tell you that it's yours, have the self-discipline and respect to not use that money as funds to indulge in gambling, be a better person.
Some people succumb to gambling addiction and find themselves asking for money from other people, in worse case even going so far as to steal money or take out loans they have no business of paying off just so they can get their fix and be able to gamble, it's a one-way ticket to hell and it's definitely going to cost you a lot in the long run if you keep up with this kind of lifestyle, worst yet, you'll end up estranging your family members, friends, and getting yourself massive criminal liabilities in the long run.
It's never worth it to take out loans or to steal money just so you can fund your gambling urges, be the smarter person and make sure you don't end up spending money you don't have businesses spending.