$CLU down 61.80% | Founder GAMBLED Investors Money? | AltcoinNOW 1

Welcome to AltcoinNOW's first post on Steemit! Today, we'll be discussing the recent tweet from the user @DNPthree, who owns the projects CLU, Xenia, Gridcraft, and Goobers. There was also a lot of bearish activity on CluCoin (one of his tokens) following the announcement of him gambling his investor's funds on the popular cryptocurrency gambling website Stake. At the time of writing, $CLU is down 61.80% with a total market cap of $77,230.

DNPthree announced this in a long tweet on TwitLonger apologizing to the community of his supporters and investors. DNPthree, in the tweet, fails to mention if any projects will continue to be updated in the future, and due to him being "broke both financially and mentally," may mean he has quit all of his projects in shame of his actions.

@6Foot4Honda mentioned in a response to the above tweet that @DNPthree simply can't be forgiven for what he did, with lots of other comments agreeing that he has made a mistake, and as a project owner, he should have been more responsible with the investment funds. One user (@Rossmacdonald1, the COO of Gokhshtein Media) even suggested doing margin trading (essentially gambling) instead of "plain old gambling."

Some red flags (in terms of DNPthree's gambling activity) were several live streams of his gambling, which some replies thought the gambling on stream was simply for fun, not to chase back the losses from his gambling. DNPthree also mentions he has a full-on addiction and will be seeking treatment for it, which leads me to believe we won't be seeing many projects or tokens released by him any time soon. Although this is just speculation based on my personal opinion, it is possible he is able to bounce back from all of this and bring back the projects.

This misuse of investors made me think of Logan Paul's CryptoZoo project, where the most viable solution to repair their reputation is to refund users for their losses and continue the project. Of course in DNPthree's case, he will most likely quit gambling for a while, then return to release another project, which I am bearish on the success of (unconfirmed, just speculation by me) that project due to his reputation for what I explained today.