Professional boxer Jake Paul has lost a major portion of his wealth on cryptocurrency investments, according to his brother Logan.
Jake Paul, once-YouTuber turned boxer, has earned over $40 million following the launch of his boxing career. He’s won five professional games, two of which were over boxer Tyron Woodley. In 2021 he was named one of the top sporting earners and has gotten tens of millions from his matches,
However, following the recent cryptocurrency crash Paul has apparently lost his earnings and is now “poor” according to Logan Paul. He revealed the news on an episode of his Impaulsive Podcast, where he said: “Yeah he made $40 million last year. It doesn’t matter, he put it all in crypto, he’s poor now.”
Cryptocurrency is a form of limited currency that exists in the virtual world. It’s recently seen a surge of popularity, especially amongst celebrities. However, in recent months it’s taken a massive hit to its value which has ruined many crypto portfolios, including Jake Paul’s.
In fact the currency is at its lowest value since December of 2020.
