Crypto News

British YouTuber KSI’s $2.8 million LUNA investment is virtually worthless

Popular British YouTuber and rapper JJ Olatunji, commonly known as KSI, recently announced that after freefalling in the cryptocurrency has lost over $2.8 million in LUNA in the past few days.

LUNA, the native token of the Terra ecosystem, is designed to tie the $1 peg of Terra’s algorithmic stablecoin maintain VAT. But when the stablecoin depegged and slipped below 40 cents on May 9, the impact for LUNA was catastrophic. The cryptocurrency lost all of its value, plummeting from $62 on May 9th to practically zero at the time of writing.

KSI’s $2.8M LUNA investment goes to zero

On Tuesday, with LUNA still trading between $25 and $30, KSI announced that it had bought into the decline and intended to hold it for a long time in hopes that the cryptocurrency would recover in a couple of years. He said he bought 100,000 LUNA, worth around $2.9 million at the time.

However, less than 48 hours later, the rapper tweeted that he’d lost almost his entire investment. The total value of his LUNA position had fallen to just over $1,000 in two days.

our recommendation British YouTuber KSI’s $2.8 million LUNA investment is virtually worthless, Crypto Trading News

My $2.8 million is literally worth $1000

HAHAHAHAHAAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA. Yes, I’ll wrap this up 😂😂😂😂 pic.twitter.com/qeiVN5yG2w

— KSICRYPTO (@ksicrypto) May 12, 2022

However, at the time of writing this article, his investment is practically worthless.

moments of revelation

After opening up about his losses, the rapper seemed quite upbeat. He shared a series of self-reflective tweets, explaining how grateful he was for only losing a huge chunk of money and nothing else.

KSI revealed that before crypto became as popular as it is today, his sole focus was on making tons of money.

He realized that in his pursuit of money he had neglected and partially destroyed the things that mattered most to him – his family, friends, legacy and health. He then mentioned that he was “finally at peace” after accepting he’d lost money but nothing else.

But now I’m finally at peace with myself. I just put 2.8 million into this Luna purchase and it’s worth less than 50,000. But that’s ok because I’m not dead. I have my family, my friends and my energetic work ethic haha

— KSICRYPTO (@ksicrypto) May 12, 2022

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Source: Crypto News Deutsch

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