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Jake Paul Is Bankrupt After Investing In Cryptocurrency

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Jake Paul has now been branded as being “poor” according to his brother Logan – following a massive cryptocurrency crash over the past few days.

In his first year as a boxer, the YouTuber turned boxer made $36 million from fights alone. His decision to invest a big chunk of change into cryptocurrency was no surprise.

The biggest currency Bitcoin dropped by 25 per cent after a recent market crash, and the price is trading at its lowest level in more than 18 months.

In just the last week, Bitcoin and Celsius temporarily suspended all withdrawals due to ‘extreme market conditions’, and Coinbase announced they were laying off 18 per cent of their staff due to a ‘crypto winter’.

RELATED ARTICLE: Logan Paul Spent $3.5 Million on Fake Pokemon Cards

As this brings us to Jake Paul and his brother Logan’s recent episode of ‘imPaulsive’ in which there was some interesting information revealed.

jake paul
Image Credit: Alamy

Jake’s boxing career was brought up by Logan, and when he was asked about how much money he’s made in the last few years, Logan used air quotes.

After hearing this, the elder Paul exclaimed: “It doesn’t matter. He put everything in crypto! He is poor!”

Jacob took to Twitter recently and criticized the state of the economy in the United States and President Joe Biden’s performance as president.

The crypto market crashing was one of the points he made, but that doesn’t really have anything to do with Biden.

Cryptocurrencies are not regulated or controlled by any government or government entities. However, this did not stop Paul from venting his frustrations on the matter.

According to the 25-year-old, Bill Biden’s achievements are: “First, the highest gas prices, second, the worst inflation, third, the plummeting crypto prices, fourth, the highest rent prices ever, and fifth, creating new incomprehensible lingo.

RELATED ARTICLE: Mayweather to Go Eight Rounds with Logan Paul at Miami Gardens

It is you who is responsible for the problem of the American people if you were the one who voted for Biden and you still do not regret your decision.”

jake paul
Image Credit: Alamy

Currently, Jake Paul is 5-0 in boxing, and he beat Tyron Woodley by a knockout in his last bout.

A return to the ring is expected for him in August, and he may go up against a longtime rival named Tommy Fury.

John Fury, Fury’s father, confirmed recently that talks about rescheduling the fight had already begun. There was supposed to be a fight between the two in December, but Fury pulled out because of an injury.

Fury Sr., of Free Bets, said, “We are looking into Jake Paul’s situation, but there are still a lot of things to work out.”

It’s still under negotiation and could change at any moment; the attorneys are working on it as we speak.”

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