UK YouTuber King Sejong Institute’s $2.8 million LUNA investment is virtually worthless

Popular British YouTuber and rapper JJ Olatounji, commonly known as KSI, has revealed that he has lost more than $2.8 million at LUNA in recent days as cryptocurrencies plummeted.

LUNA, the native token of the Terra ecosystem, is designed to hold a $1 peg of UST, Terra’s algorithmic stablecoin. However, when the stablecoin unpegged and slid below 40 cents on May 9th, the effect was catastrophic for LUNA. The cryptocurrency value has plummeted from $62 on May 9 to essentially zero at the time of writing.

King Sejong Institute’s $2.8 million LUNA investment changes to zero.

On Tuesday, when LUNA was trading between $25 and $30, the KSI was exposed He bought in a bear market and intends to hold it for a long time with the hope that the cryptocurrency will recover in a few years. He said he had purchased 100,000 LUNAs at the time, worth about $2.9 million.

But less than 48 hours later, the rapper tweeted that he had lost almost everything he had invested in. The total value of his LUNA position fell just over $1,000 in two days.

However, at the time of this writing, his investment is worth little.

moments of revelation

After talking about his loss, the rapper appeared somewhat optimistic. He shared a series of self-reflection tweets, saying he was grateful for the huge loss of money.

KSI revealed that before cryptocurrencies became as popular as they are today, he was solely focused on making a lot of money.

In his pursuit of money, he realized that he had neglected and to some extent destroyed the most important things: family, friends, heritage, and health. After he admitted that he had nothing but lost money, he said he had “finally made peace” with him.

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