The controversial youtuber was one of the investors affected during the cryptocurrency market crash .
Youtuber Logan Paul has warned that he has lost more than 3 million dollars after investing in cryptocurrencies .
This announcement was made on his own podcast called Impaulsive in the middle of a conversation with his brother Jake Paul .
“It’s not a good time to get fully involved in crypto, especially if you were involved in Luna. KSI, my business partner on Prime, lost over $3 million and disappeared. I’ve personally lost over $500,000 so far,” he said Paul on the market crash.
“I will say though, if you believe in technology, the function of cryptocurrency, then this is nothing. It’s just another bump in the road, but that’s really hard for people,” he also stated.
“You have to control your emotions and play for the long haul if you want to win,” he said.
Moon, the market crash
Logan Paul referenced Luna, one of the hardest hit coins from the latest market crash .
Luna peaked at $115 during April, but is currently worth less than a penny , causing thousands of investors to lose even their life savings. Unfortunately, the spread of the case also caused notorious suicide publications to be made among them.
Its fall is mainly due to its link to the UST currency, a stablecoin whose value should always be one dollar. However, the fall of the market caused it to be inflated, losing said parity . This, in turn, prompted the creation of new Luna coins to control the situation, devaluing their currency and causing millionaire investors to withdraw their savings to harm other users.
Logan Paul and the NFTs
Paul, meanwhile, launched his ’99 Originals’ NFT project. The project is a collection of 99 original Polaroid photographs taken by Logan Paul over the course of 99 days, which are sold in the form of NFTs.
“It’s been amazing, the first one sold for $60,000, the second one sold for $100,000. We’ve sold four. It’s doing amazing,” he said.