😱 A FUNERAL COMPANY GAMBLED CUSTOMER MONEY ON CRYPTO — AND LOST $33 MILLION!

This story will make your jaw drop. 👇

Bumo Sarang — a South Korean funeral company — secretly invested $43 million of customer prepaid funeral funds into a 2x leveraged crypto ETF linked to Ethereum mining firm Bitmine. The result? The position crashed to just $6.8 million — a loss of $33 million. (Binance)

Let that sink in. People paid in advance for their own funerals. That money was supposed to be SAFE. Instead it was used to bet on leveraged crypto. 😤

ETH dropped 28% year-to-date. Bitmine stock fell nearly 40%. The 2x leverage made every loss TWICE as painful. (Fortune)

Shockingly, 43% of South Korean funeral companies hold LESS assets than their customers have paid them. The whole industry is at risk. (Yahoo Finance)

The company called it a "short-term unrealized loss." 🙄

Lesson for all traders: Leverage is a weapon. It cuts both ways. ALWAYS.

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