Logan Paul and KSI lost £2.8m after crypto crash plunges Luna and rocks Bitcoin

Logan Paul revealed that he and British Youtube star KSI lost a combined £2.8m ($3.5m) after the recent crypto crash sent prices of Bitcoin, Ethereum and Luna into the ground.

Paul has been in business with KSI ever since the Brit overcame the American in their highly anticipated boxing clash in 2019. Both stars, who are worth a combined £43m as of April 2022, invested heavily into the Crypto and NFT (Non Fungible Tokens) market.

However, like millions of other investors, the value of their investments nosedived after the Cryptocurrency Luna, saw it's price nosedive from around $6.75 (£5.45) to less than one cent in a matter of days. And Paul described the situation surrounding Luna as “tragic” before revealing that he and KSI came close to losing £3m between each other.

“Luna in particularly, I don’t know the Luna story, but it was tragic,” Paul said to the Impaulsive podcast. “Yeah it’s not a great time to be fully involved in crypto, especially if you were involved in Luna.

“KSI, my business partner, lost $3m (approximately £2.4m) – gone! I personally have lost over half a million (approximately £404,000) thus far.” Approximately £40billion worth of losses is estimated to have occurred as a result of the Luna crash.

Bitcoin also felt the full force of Luna evisceration as its share price once again fell below £24,500. Ethereum, which is the second biggest crypto on the market, was also rocked as its share price reduced by a whopping 20%.

Would you ever consider investing in Cryptocurrency? Let us know in the comments section below

But while he is evidently not best pleased by the sheer drop in his investments, Paul said he was not panicked by the situation, describing it as a “bump in the road”. “I will say though, if you believe in the tech and you believe in the function of cryptocurrency, and you zoom out and go super macro this is nothing,” Paul added.

“It’s just another bump in the road but that’s really hard for a lot of people. A lot of people fomo buy and then panic sell, but you have to remove your emotions from this situation. If you play the long game, you’re going to win!"

Source: Read Full Article