The YouTuber Logan Paul keeps making headlines. He is one of the most controversial figures on the internet and jumps on all sorts of trends, most recently cryptocurrencies. Here he has now incurred heavy losses, but he doesn’t find it to be such a big deal.
Who is the YouTuber? Logan Paul is one of the largest YouTubers in the world. In his videos, he often executes quirky ideas and thus makes news. For instance, he poured 15 GameBoy Color into resin, which attracted a lot of hatred towards him.
With his ideas, he continually ruffles feathers. Some celebrate him for what he does, while others criticize him strongly. It has become somewhat of a cult or a matter of faith whether one should love or hate Logan Paul.
His latest idea is a marketplace where one doesn’t really buy or sell anything. Additionally, the YouTuber is heavily involved in cryptocurrencies, in which he has invested money recently.
As he reveals in a new video, however, he has incurred heavy losses:
“Not a good time to be involved”
This is what Logan Paul says: Paul talks about the crash of cryptocurrencies. As the news agency Reuters reports, the entire cryptocurrency market has lost about 50% of its value since November 2021. The famous Bitcoin alone has fallen from 69,000 US dollars to 30,000 US dollars (approximately 64,000 or 28,000 euros).
“It’s not a good time to be fully involved in crypto. Especially if you were dealing with LUNA. KSI, my business partner, lost 3 million dollars. Gone. Personally, I have lost half a million so far.”
However, the loss doesn’t seem to affect Paul much. He refers to the current crypto low as a “bump in the road” – a rather soothing phrasing.
What’s next for him? For Paul, cryptocurrencies and apparently also NFTs are still the future. He says, “If you believe in the technology, in the function of cryptocurrencies, and look at it all from a very high perspective, then it amounts to nothing.”
Many people do not see it that way. According to Paul, they buy trending and quickly sell out of panic. One must leave emotions aside and “play for time.”
Money doesn’t seem to play a very significant role for Logan Paul anyway. He had already lost 3 million euros and wore a Pokémon card worth almost 5 million euros around his neck.
Not all YouTubers are honest in crypto
The phenomenon of crypto is also spreading outside of known figures like Logan Paul on YouTube – and not always for the better. One YouTuber reportedly made a profit of 11 million euros with the crypto coin Safemoon, allegedly because he deceived his fans.
Another crypto coin, “Save The Kids,” has ended the careers of 4 YouTube stars. Behind the entire coin was supposedly a fraud scheme, of which the YouTubers allegedly knew nothing.
Crypto and NFTs are trends that have also been gaining traction in gaming for some time. Some studios are focusing on “Crypto Gaming” or on the ownership of digital goods for resale. You can read more about this topic in our in-depth special:
NFT is the new trend in gaming, companies are worth billions $ – But why?
