YouTuber KSI Says He Lost $2.8 Million on Terra in One Day

　　KSI says he has now lost at least $8 million in crypto so far and admits to having a gambling addiction.

　　One of LUNAs celebrity holders is taking to social media to document his losses.

　　British YouTuber and rapper JJ Olatunji, more commonly known as KSI, shared Thursday morning that the $2.8 million he invested into Do Kwons cratered cryptocurrency, Terra (LUNA), had plummeted to a new valuation of less than $1,000 in a day.

　　LUNA is a cryptocurrency created in part to help maintain the peg, or stable $1 value, of Terraform Labs algorithmic stablecoin TerraUSD (UST). But UST lost stability on May 9 and has since plummeted to just 38 cents. Because of the connection between UST and LUNA, the latter nosedived from $62 on May 9 to just 1 cent.

　　Wednesday evening, KSI—who has nearly 40 million subscribers across two YouTube channels—shared from his crypto-focused Twitter account some of the things hes learned from investing in LUNA.

　　“I just put $2.8 million in that LUNA buy and it‘s worth less than 50k. But that’s ok because I‘m not dead. I’ve got my family, my friends and my vigorous work ethic haha,” KSI wrote.

　　Roughly 12 hours later, KSI shared an update on his LUNA losses.

　　Why did KSI buy into LUNAs crash？ The answer is unclear, though he said Wednesday that he had plans to hold it long-term.

　　While LUNA might still look appealing to the few self-proclaimed “LUNAtics” who think the cryptocurrency might rebound, its critical to note that the LUNA token has an unlimited supply and is currently suffering from severe hyperinflation.

　　This isnt the first time KSI has lost six figures trading cryptocurrency, either. Back in January, he revealed that he lost $5.1 million trading crypto in 2021 and told his audience about the dangers of leverage trading, which is when a trader borrows money or assets to increase the total amount being traded.

　　“Never leverage trade. You dont win. You never win… my crypto experience has just been a lot of losing,” he said, before breaking out into a fit of laughter.

　　While the internet star has now lost at least $7.9 million in the past year from fumbling crypto trades, he seems to be taking it in stride.

　　“I had been so focused on money that I was slowly destroying the things that were important to me,” KSI shared, adding that he went to a therapist last year to talk about his life.

　　KSI fans on Twitter called the stars losses “shocking,” “mental,” and “terrible,” while others joined in on the dark comedy of it all. When one suggested that KSI might be on the road to gambling addiction, KSI had some thoughts.

　　“Definitely have one lmao, slowly fixing that. Crypto doesnt help with my addiction,” he said.

　　As a reminder, WikiBit is ready to help you search the qualifications and reputation of projects in a bid to protect you from hidden dangers in this risky industry!

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　　Source: Decrypt