The YouTube sensation Logan Paul recently revealed that his brother Jake Paul is going through a tough time. It seems Jake is ‘poor’ after the cryptocurrency market dipped. It was just last month that Celebrity Net Worth estimated that Paul was worth around a whopping $50million. It was believed that the Problem Child made $40m fighting last year alone. However, it appears he has lost large chunks of his fortune after the crypto crash.
Logan Paul opens up on Jake Paul
Speaking on his Impaulsive podcast, Logan stated that Jake’s decision to put his money into various cryptocurrencies is not paying off. Logan dropped the bombshell when co-hosts George Janko and Mike Majlak were hailing his little brother’s success in the ring.
“It’s going pretty well, he’s won every fight he’s done,” remarked Janko.
Majlak added: “He made like $40m last year.”
Logan then went on to say:
“It doesn’t matter, he put it all in crypto… he’s poor.”
The crypto market has taken a huge hit in recent months, with Bitcoin crashing towards $20,000 this week. According to Forbes, that’s the lowest it’s been since December 2020. For those who are not aware, Cryptocurrency is a form of currency that exists digitally or virtually and uses cryptography to secure transactions. Cryptocurrencies don’t have a central issuing or regulating authority and the appeal of this to many is not having banks or the government involved with their money.
Jake has gone 5-0 as a professional boxer and his last three fights in particular have gained mainstream attention. The 25 year old knocked out Ben Askren in one round and then beat Tyron Woodley twice; first via points and the second time thanks to a stunning knockout. His next fight could be a big-money one. Paul is in talks to rearrange the previously cancelled fight with Tommy Fury, younger brother of heavyweight king, Tyson. We will have to see if that bout takes place.
