- The British YouTuber lost $2.8 million in the latest cryptocurrency crisis yesterday. He possessed 157,000 Luna, which saw their value plummet by nearly 99 percent.
- It was part of a larger decline in crypto assets, which has since begun to rebound.
- Last year, KSI was claimed to have lost almost £7 million in a Bitcoin crash.
- Just one month ago, his ‘stablecoin’ assets may have been valued at $13.4 million.
JJ Olatunji, better known as KSI, a U.K.-based YouTuber and rapper, stated on Thursday morning that his $2.8 million investment in cryptocurrency Terra (LUNA) had been reduced to a measly $1,000 in just one day.
LUNA is a cryptocurrency created to help Terraform Labs’ algorithmic stablecoin TerraUSD maintain its peg, or stable $ 1 value ( UST ). However, on May 9, UST lost its stability and has since fallen to just 38 cents. Because of the UST-LUNA tie, the latter’s stock plummeted from $ 62 on May 9 to barely 1 cent.
This isn’t his first crypto loss. His previous investing patterns resulted in him losing more than $5 million. He bought 100,000 LUNA while the market was falling, but he lost a lot of money as a result of his sketchy decision.
” I spent $ 2.8 million into that LUNA purchase, and it’s only worth $50,000.” But that’s not a problem because I’m not dead. “I have my family, friends, and a strong cultivate ethic, hehe,” KSI wrote.
KSI provided an update on his personal losses after about 12 hours.
Why did KSI invest in LUNA’s collapse? The solution is unclear, however he stated on Wednesday that he intends to keep it in place in the long run.
While LUNA may appear enticing to the few self-proclaimed ” LUNAtics ” who believe the cryptocurrency will recover, it’s important to remember that the LUNA token has an infinite supply and is now experiencing extreme hyperinflation.
KSI believes that you should diversify your portfolio rather than putting all of your money in one place. “Invest in a variety of categories, such as homes, stocks, art, and watches.”
He also mentions that the unfortunate aspect about the $LUNA scenario is that it will simply drive the general population away from cryptocurrency.
JJ stated that before cryptocurrencies became prominent in the mainstream media, he was primarily concerned with making money. He became immune to wealth after establishing himself, realising that money was not everything and that what counted most was family, friends, and his legacy.
However, KSI is now at peace:
KSI is a YouTube influencer and the co-founder of Sidemen, a British content producer collective. He began his internet career in 2009, focusing on generating FIFA-related material. His main YouTube channel has over 23 million subscribers and a whopping 5.8 billion views.
“JJ” informed his followers that he had lost $2.7 million after the cryptocurrency LUNA lost nearly all of its value overnight. JJ is recognised for his interest in cryptocurrencies, whether it’s non-fungible tokens (NFTs) or hot crypto coins.
In a Twitter dialogue thread, the YouTuber presented his ideas and beliefs. He stated that he was “finally at peace” with himself after admitting that he had lost a significant sum of money but that nothing worse had occurred.
KSI acknowledges that he is in a far better position than he was a year ago. “I think you’ll see in the documentary, but last year I was so lifeless.”
During this crypto phase, he has learned a lot. Before it, he admits to being a lost soul, but today he is more focused and cheerful than ever.
The 28-year-old content creator’s post sparked a heated debate among Twitter users. Many people believed that because he had made so much money, losing over $3 million was not a big concern for him.
Not all of the responses were unfavourable. Fans praised the YouTuber’s upbeat approach with several uplifting and wholesome remarks.