Lambo Down: Crypto Rich Crashing and Selling Their Trophy Cars

A North London photographer on his way to work last Friday morning was surprised to find a bright purpled Lamborghini crashed into a ditch, ABC Australia reports.

The $500 000 car was reportedly banked adjacent to the training grounds of the Tottenham Hotspur soccer team, and the photographer, Andrew Lawrence, first thought it might be the property of a wealthy footballer.

Turns out the car belongs to Michael Hudson, the CEO and founder of Bitstocks, “a leading cryptocurrency market advisory and investment firm based in the heart of London,” who reportedly showed up several hours later to collect his Lamborghini.

ABC reports that Hudson later explained the crash, “in a video posted to YouTube by celebrity car customiser Yianni Charalambous.”

Speaking from the crash site, Hudson states in the video that he lost control of the car when it hit a patch of water:

“I was heading towards that pole over there…Prime directive [was] don’t hit the pole [and] I just banked it.”

Charalambous reportedly used his own Lamborghini to block traffic while Hudson’s car was pulled from the ditch.

Charalambous also reportedly marvelled in the video at Hudson’s calm, stating, “This guy is the calmest guy in the world…Me, I’d be running up and down crying, but this guy is like, ‘It’s just a car.'”

Hudson later referred to the incident as, “a bad day,” on Instagram and said the car should be back on the road shortly.

https://www.instagram.com/p/BueUnQQB24-/?utm_source=ig_embed&utm_campaign=embed_locale_test

There was also “Lambo” news on “CryptoTwitter” this weekend after Morgan Creek Digital Asset Fund co-founder Jason Williams tweeted that he is selling his orange Lamborghini for bitcoins.

One commenter, “Vivek,” advised Williams to “tokenize this car,” to which Williams responded with a GIF of actor Dwayne Johnson making a saucy, approving expression.

Cryptocurrency promoters like Williams have been accused by prominent bitcoiners of complicity in the “printing of money” for promoting the notion of infinite tokenization and for promoting cryptocurrencies of questionable worth.

Lamborghinis are one of the most audacious symbols of the crypto world, which is largely dominated by young males, and exuberent “Lambo” memes abounded on social media during the crypto boom of 2017, when even crypto-rich teenaged boys were displaying theirs in crypto-promoting tweets and videos.

But now that crypto prices are down between 80% and 100%, exuberance has been replaced more by lamenting memes, for the time being, including “When moon, sir?” and “When Lambo?”



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