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 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.
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.
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