KSI claims that he has lost $8 million in crypto thus far, and admits to a gambling addiction.
One of LUNA’s most famous holders has taken to social media to record his losses.
JJ Olatunji (a British YouTuber and rapper) shared that the $2.8million he had invested in Do Kwon’s cratered cryptocurrency Terra (LUNA), had dropped to a new valuation below $1,000 in a single day.
LUNA was a cryptocurrency that Terraform Labs created to maintain the peg (or stable $1 value) of Terraform Labs’ algorithmic stabilizecoin TerraUSD. UST dropped to 38 cents after losing stability on May 9. The connection between UST & LUNA caused the latter to plummet from $62 on May 9, to just 1 cent.
Wednesday evening, KSI (who has almost 40 million subscribers across two YouTube channels) shared from his crypto-focused account on Twitter some of the lessons he learned investing in LUNA.
“I just invested $2.8 million in the LUNA purchase and it’s now worth less than 50k. It’s okay, I’m still alive. “I’ve got my family and my friends, as well as my strong work ethic,” KSI wrote.
KSI posted an update about his LUNA losses 12 hours later.
KSI bought into LUNA’s collapse. He did not give a clear answer, but he stated Wednesday that he intended to keep it long-term .
LUNA may still be attractive to a few self-proclaimed “LUNAtics”, who believe the cryptocurrency will rebound. However, it is important to remember that the LUNA token is in an untapped supply and is currently experiencing severe hyperinflation.
This isn’t the first time KSI lost six figures in cryptocurrency trading. Back in January, he revealed that he lost $5.1 million trading crypto in 2021 and told his audience about the dangers of You can’t lose. “You never win… My crypto experience has just been lots of losing,” he stated before breaking into fits of laughter.
The internet star has lost $7.9 million over the past year due to his inept crypto trades. However, he appears to be enjoying it.
“I was so focused on money that it was slowly destroying all the things that were important to my life,” KSI said. He also shared that he saw a therapist last summer to talk about his past.
Twitter users called the star’s losses shocking, “mental”, and “terrible” while others shared their dark humor. KSI had some thoughts when one suggested that KSI may be on the path to gambling addiction.
“Definitely have one LMAO, slowly fixing that. He said that crypto doesn’t help my addiction.
