Internet influencer Boss G, or Mark Pascual in real life, posted on his personal Facebook account that he is now on the mend after losing funds worth $150 million (both from his investments and those of close friends and family). due to cryptocurrency futures trading. during the last two years.
What is the meaning: Boss G’s post raises awareness and warns cryptocurrency traders, whether experienced or newbies, to always keep an eye on the market and not be greedy just to make profits.
What happened:
- According to Pascual, he lost control and did “revenge trading” because he wanted to regain his abundant lifestyle after experiencing his lowest point in life and selling his established assets.
“I had a lot but I still wasn’t satisfied and I still wanted more money. I’m not saying to avoid cryptocurrencies. Just learn not to be greedy and risk only what you can afford to lose. There is no such thing as easy money.”
[Translation: I had so much wealth but I thought that was still not enough and dreamed of having more money. I am not saying that you should avoid investing in cryptocurrencies. But learn to be not greedy and risk only the money that you can afford to lose. There is no such thing as ‘easy money.’]
Mark Pascual, content creator aka Boss G
- Message for close friends: It seems that there are close friends and family of Pascual who entrusted him with their investment funds to grow and trade cryptocurrencies.
- He then asked for more time to recover what they had entrusted to him, assuring them that he would do everything possible to recover it.
“I have nothing to show people anymore. I am so ashamed. I am not a bad person, but yes, I am addicted to trading without a proper trading plan. I am sorry for everything. My brain is so screwed. I will not abandon my obligation to those who trusted me, I just need time.”
[Translation: I am so embarrassed and cannot face them anymore. I am not a bad person but I admit that I got addicted to trading because I had no proper trading plan. I am so sorry for everything. My mind is so f***ed up. I will not run from my obligations to those who trusted me but I need time to recover.]
Mark Pascual, content creator aka Boss G
- Message to his girlfriend and family: Pascual also shared that his debt to the family of his girlfriend, actress and content creator Sachzna Laparan, reached 42 million pesos and he thanked her for always reaching out to him and not saying anything bad to him.
Who is Marcos Pascual? Known as Laparan’s better half, Pascual established himself as a game content creator.
- Your Facebook gaming channel, boss ghas over 500,000 followers and hosts live streams from Pascual about different gambling games on the “Galaxy Casino Live” app.
- It also has a business community, Boss G Capital Ventures, with Telegram and Discord communities.
- Pascual also created Team Boss G, a facebook platform for those who want to be agents for their online casino and betting app sponsorships.
Key quote:
“I’m posting this to raise awareness. Don’t make the same mistakes I did. Appreciate the people who love and trust you. Don’t take them for granted. I will fight and fix everything. I won’t abandon my obligation to the people who trusted me and I will return it to you. I will go back to the top, I will do everything.”
[Translation: I am posting this for awareness. Do not make the same mistakes I did. Learn to value those who love and trust you—do not take them for granted. I will fight and fix everything. I will not run from the obligations I have to those who trust me. I will do everything to be at the top again.]
Mark Pascual, content creator aka Boss G
Between the lines: Content creators sharing their bad experiences with futures trading could affect how the Securities and Exchange Commission (SEC) could allow local crypto exchanges that hold a virtual asset service provider (VASP) license. ) offer futures contracts on commodities.
- In fact, when the SEC decided to ban the international cryptocurrency exchange Binance in the country, one of the reasons the regulator highlighted was that the unlicensed exchange offers illegal securities, including futures trading.
On the other handIt is worth noting that after offering short selling transactions, the Philippine Stock Exchange (PSE) is rumored to soon offer derivatives including futures contracts.
- Remember: If the PSE could receive the green light from the SEC to offer derivatives, crypto exchanges could offer them too.
- However: Crypto Lawyer Atty. Rafael Padilla argued that the PSE might not launch futures trading soon for regulatory reasons in his article written and published on BitPinas.
This article is posted on BitPinas: Famous Influencer’s Partner Reports Crypto Futures Trading Loss of ₱150 Million
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