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HomeGeneral BlockchainUK YouTuber KSI's $2.8 Million LUNA Investment is Virtually Worthless

UK YouTuber KSI’s $2.8 Million LUNA Investment is Virtually Worthless



Well-liked British YouTuber and rapper JJ Olatunji, generally often called KSI, not too long ago revealed that he has misplaced over $2.8 million in LUNA following the cryptocurrency’s freefall over the previous few days.

LUNA, the native token of the Terra ecosystem, was designed to assist keep the $1 peg of Terra’s algorithmic stablecoin, UST. However when the stablecoin depegged on Might 9 and slipped beneath 40 cents, the impact was catastrophic for LUNA. The cryptocurrency all of its worth, crashing from $62 on Might 9 to primarily zero on the time of writing.

KSI’s $2.8 Million LUNA Funding Turns to Zero

On Tuesday, when LUNA was nonetheless buying and selling between $25 and $30, KSI revealed that he purchased in on the dip and supposed to carry it for a very long time with the hope that the cryptocurrency would get better in a number of years. He mentioned he bought 100,000 LUNA, price round $2.9 million on the time.

Nonetheless, lower than 48 hours later, the rapper tweeted that he had misplaced almost all his funding. The overall worth of his LUNA place had tumbled to slightly over $1,000 inside two days.

On the time of this writing, nevertheless, his funding is just about nugatory.

Moments of Revelation

After recounting his losses, the rapper appeared fairly optimistic. He shared a sequence of self-reflecting tweets, stating that he was grateful to have misplaced simply an enormous chunk of cash and nothing else.

KSI revealed that he had been solely targeted on making tons of cash earlier than crypto grew to become as widespread as it’s immediately.

He realized that in his pursuit of cash, he had uncared for and considerably destroyed the issues that mattered essentially the most — his household, pals, legacy, and well being. He then talked about that he was “lastly at peace” with himself after accepting that he had misplaced cash however nothing else.

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