Seems like a bunch of them are cashing out (converting their audience's cash into their own cash).
It's embarrassing because most of them are probably doing quite well financially (at least better than the people they are dumping their PIPE shares on).
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Greed is a helluva drug. For some who have made 100x or more, the gains are wild, yet still not enough. In the end, 99% are still fiat maxis.