One of LUNA’s celebrity holders is taking to social media to document his losses.
British YouTuber and rapper JJ Olatunji, more commonly known as KSI, shared Thursday morning that the $2.8 million he invested into Do Kwon’s cratered cryptocurrency, Terra (LUNA), had plummeted to a new valuation of less than $1,000 in a day.
LUNA is a cryptocurrency created in part to help maintain the peg, or stable $1 value, of Terraform Labs’ algorithmic stablecoin TerraUSD (UST). But UST lost stability on May 9 and has since plummeted to just 38 cents. Because of the connection between UST and LUNA, the latter nosedived from $62 on May 9 to just 1 cent.
Wednesday evening, KSI—who has nearly 40 million subscribers across two YouTube channels—shared from his crypto-focused Twitter account some of the things he’s learned from investing in LUNA.
“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,” KSI wrote.
Roughly 12 hours later, KSI shared an update on his LUNA losses.