The $2.8 Million LUNA Investment Made By UK YouTuber KSI Is Virtually Worthless

Following the LUNA cryptocurrency’s recent freefall, popular British YouTuber and musician JJ Olatunji, also known as KSI, recently claimed that he had lost almost $2.8 million in LUNA.

The $2.8 Million Terra Investment Made By UK YouTuber KSI Is Virtually Worthless

The Terra ecosystem’s native token, LUNA, was created to support the $1 peg of Terra’s algorithmic stablecoin, UST. The effect on LUNA was disastrous when the stablecoin depegged on May 9 and fell below 40 cents. The cryptocurrency has lost all of its value, plummeting from $62 on May 9 to almost nothing at the time of writing.

The $2.8 million LUNA investment made by KSI is now worthless

On Tuesday, when LUNA was still trading between $25 and $30, KSI revealed that he bought in on the dip and intended to hold it for a long time with the hope that the cryptocurrency would recover in a few years. He said he purchased 100,000 LUNA, worth around $2.9 million at the time.

However, less than 48 hours later, the rapper tweeted that he had lost nearly all his investment. The total value of his LUNA position had tumbled to a little over $1,000 within two days.

At the time of this writing, however, his investment is virtually worthless.

Revelation moments

The $2.8 Million LUNA Investment Made By UK YouTuber KSI Is Virtually Worthless

The rapper appeared to be cheerful after narrating his losses. He posted a series of self-reflective tweets, expressing gratitude for only losing a large sum of money and nothing else.

Before crypto became as famous as it is today, KSI confessed that he was completely focused on making a lot of money.

He recognized that in his chase of wealth, he had neglected and even destroyed the most important things in his life: his family, friends, legacy, and health. After realizing that he had lost money but nothing else, he stated that he was “finally at peace” with himself.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Annie

CoinCu News

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

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