KSI and Logan Paul Lose Millions In Crypto Investments

Cryptocurrencies have recently historically and astronomically plunged, with Terra Luna suffering the biggest blow of them all. Logan Paul recently discussed how this collapse of crypto effected him and his friend, business partner, and fellow YouTube Boxer KSI, both of whom have lost millions because of their investments in crypto.

Everyone rushed to secure some crypto for themselves and become a millionaire overnight after the incredible and unprecedented success of the “Bitcoin”. Even the ones who were already millionaires did not want to miss out on this exciting and very promising financial opportunity. However, ever since its peak, the crypto market has only witnessed a downward trend, with the market cap decreasing progressively. The last few months in particularly have doubtlessly been the worst ever time for the crypto market and crypto enthusiasts who are losing money as fast as they hoped to gain it.

People are said to have lost their “life savings” as the cryptocurrency Terra Luna dropped from £70 per share to less than 13p. KSI spent about £2.5 million in the currency, only for it to crash to £800 a few days later.

“It’s not a great time to be fully involved in crypto, especially if you were involved in Luna. KSI, my business partner in Prime, lost over $3million, gone. I personally have lost over $500,000 so far,” Paul said talking about the market collapse on his Impaulsive podcast.

Logan Paul Defends Crypto

However, even after having lost a significant amount of money in the crypto game, Paul insists he still hasn’t lost faith in it. “I will say though, if you believe in the tech. The function of cryptocurrency, zoom out and go super macro then this is nothing. It’s just another bump in the road, but that’s really hard for people.” he said, defending the crypto industry.

“A lot of people FOMO [fear of missing out] buy and panic sell, you have to remove your emotion from this situation and if you play the long game then you’re gonna win.” he added.

“A lot of people FOMO [fear of missing out] buy and panic sell, you have to remove your emotion from this situation and if you play the long game then you’re gonna win.” he added.

Paul recently launched his own NFT project ’99 originals’, which is a collection of 99 original polaroid pictures taken by Paul over the course of 99 days, that are sold in the form of NFTs.

“It’s a little financially scary at times, that’s why I launched one of the most important projects of my life during the worst bear market we’ve ever seen, Paul joked. “I’m just kidding, [99] originals is doing fantastic.”

Sahil likes to use his great writing skills to curate articles about Crypto and KPOP here at Clout News.