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Fintech

Meet the 24-year-old who quit hedge fund Citadel to get rich in blockchain network Terra. Two months later, ‘there is no Terra anymore’

'I wanted to take on more risk in my career, honestly. So I thought this is the right field,' said Neel Somani

Some of Neel Somani’s friends had become 'very successful' in crypto
Some of Neel Somani’s friends had become 'very successful' in crypto

At the start of 2022, Neel Somani was a quantitative research analyst working at Citadel, billionaire Ken Griffin’s powerhouse hedge-fund firm, which manages about $47bn. But at age 24, Somani quit in late February with dreams of getting rich in crypto and helping to build a more decentralised financial system.

Somani chose to focus on Terra, one of the most popular blockchain networks, and its related cryptocurrency, USDTerra, ranked among the 10 largest cryptocurrencies by market capitalisation at the time.

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