KSI Seems Surprisingly Chill for Someone Who Lost $2.8 Million in Crypto
Even with KSI’s crypto losses, the British YouTube star says he’s “at peace.” See how he lost $2.8 million following his 2021 crypto failures.
May 13 2022, Published 2:18 p.m. ET
YouTuber and rapper KSI’s crypto losses are making headlines, after the 28-year-old revealed his Terra (LUNA) investment is now worth next to nothing. KSI, born Olajide Olayinka Williams “JJ” Olatunji, bought millions of dollars of the currency before the LUNA price went from $80 to $0.00008 in less than a week.
But KSI seems philosophical about that seven-figure loss. “Before crypto, money was a driving force in my mindset,” he wrote on Thursday, May 12, starting a Twitter thread about the setback. “During my time, I made a lot of money and lost a lot of money. I went from euphoric to depressed. But soon I became numb to it all and realized that money simply isn’t everything.”
KSI lost $2.8 million in LUNA, but he’s “at peace.”
In Thursday’s Twitter thread, KSI said he looked within himself and figured out that his family, friends, legacy, and health were what he cherished most. “I had been so focused on money that I was slowly destroying the things that were important to me,” he wrote. “So last year, I went to see a therapist to tell her that I had lost purpose in my life. I had no joy in anything. Before, everything was just money, money, money, and I didn’t know what was the reason I did anything anymore. However, now I’m finally at peace with myself."
Then KSI revealed the bad news. He said, “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. Like, I’m just in such a better place than I was last year. I guess you’ll see in the doc, but I was so lifeless last year. But anyway, I’ve learned a lot during this crypto phase. Was a lost soul before it, and now I’m more focused and happier than ever.”
Hours later, KSI posted another update
As Decrypt explains, LUNA was created partly to maintain the stable $1 value of the TerraUSD (UST) stablecoin, but as UST lost stability on Monday, May 9, LUNA crashed.
KSI lost millions in crypto last year, too.
Unfortunately, KSI isn't a stranger to million-dollar cryptocurrency failures. In an interview on the Private Parts podcast last July, the “Holiday” performer revealed the highs and lows of his crypto experience so far.
“I put £2 million [about $2.4 million in today’s money] into Bitcoin — well, I say Bitcoin. I put [in] £2 million last year — November, December — but this was into cryptocurrencies,” he said, per NME. “I made £7 million [$8.6 million] and now I’ve lost it all. It’s mental. It’s been a full journey, but I had to experience it. I fully understand it now. I put money in things where I essentially leveraged myself, and I kinda over-leveraged myself to a point where I lost money because of it.”
Even then, KSI offered a dispassionate response to what would seem like a devastating loss. “There’s no point crying over spilt milk,” he said on the podcast.