It seems as though Jake Paul has taken a huge financial hit after his investments in crypto have crashed and burned.
That is according to his brother, Logan Paul, who opened up about his Jake’s losses in a recent episode of his Impaulsive podcast.
During the episode, co-hosts George Janko and Mike Majlak pointed out how well Jake has been doing over the last few years, with George saying his career in boxing has been “going pretty well, he’s won every fight he’s done,” before Mike responds: “He made like $40 million last year.”
That’s when Logan Paul came in, bashing his little brother: “It doesn’t matter, he put it all in crypto… he’s poor,” he said.
And while we’re pretty sure he’s not “poor,” as he’s up there as one of the highest-paid athletes under 25, he has clearly taken a hit financially due to the crash.
According to Forbes, the crypto market is doing pretty badly at the minute, so much so, that it is currently at an all-time low, the worst it’s been since December 2020.
Jake even spoke out about it himself, taking to social media to blame President Joe Biden for him losing cash.
In a Twitter post, he wrote: “Biden accomplishments. Number one, highest gas prices. Number two, the worst inflation. Number three, plummeting crypto prices. Number four, highest rent prices ever. Number five created new incomprehensible language.”
He added: “If you’re reading this and voted for Biden and you still don’t regret it then you are the American problem.”
It wasn’t long before Jake’s post was bombarded with comments from thousands of annoyed Twitter users, calling out the boxer for his comments, claiming he knows nothing about cryptocurrency.
“My man blames Biden for crypto you know… when he’s one of the main dudes pumping and dumping,” wrote one Twitter user.
Another said: “Are you… blaming Biden for crypto? The thing that is advertised as uncontrollable by the government?”
A third wrote: “You ate that queen!! did you also eat some shrooms before you tweeted this?”
“If you don’t understand how literally anything works, just say that,” echoed another.