essence
When 2 million Gary tokens were dumped on the KuCoin exchange on July 4, the token lost 90% of its value in a flash. While token issuer Spark has said it was a “black swan event”, investors have been left high and dry. What caused the crash and what does it mean for investors, creators, and Spark?
July 4th was a day like any other for Arun (name changed to protect identity), who owns a small business and is in his mid-twenties. After dinner, he went for a walk with his wife. His investment in short-video platform Spark’s token Gari was paying off. The price of Gari token he bought is USD0.4 which is now at USD0.8. He had a dream of going to the UK for higher education. everything seemed fine
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