YouTube star Logan Paul has clarified that he was only making a joke when he said his brother Jake was “broke” after making investments in crypto.
As cryptocurrencies and NFTs have swept across the internet in the last year or so, plenty of influencers have hopped aboard with their own investments. Some have only dipped their toe in with a small investment, while others have gone pretty massive.
Logan Paul has been on the NFT train for quite some time, launching his own collections and raking in a fair bit of cash. So, when he talks pretty in-depth about the new technology, it usually means something.
Well, the social media star set the internet alight when he said that his brother Jake also followed him into the space but didn’t find the same success and was now “broke” from it. Though, he has now cleared things up and revealed he wasn’t exactly telling the truth.
The imPaulsive podcast host joined the NELK Boys’ Full Send podcast on June 24, where he talked about his brother’s next fight and the pair’s involvement in crypto and NFTs – including some of the recent crashes around Bitcoin and other coins.
“Yo, I made a joke on one podcast about Jake being broke, I talked about him and he made like 40 million last year or whatever – which, by the way, is like fact – and I made a joke that he lost it all because he invested it in crypto and traditional media ran with it,” the social media star said.
“These f**kers are like Jake Paul is broke because crypto crashed. Yeah, but Jake didn’t invest his money into crypto,” Logan added. “I’m sure he invested some, but he’s not going to invest his entire portfolio.”
Timestamp of 40:15
As Logan noted, $40 million would be a massive investment into the crypto space, and it doesn’t make sense – unless you’ve got like Elon Musk money, which Jake doesn’t.
With things continually changing with crypto and NFTs, don’t be shocked to see Paul brothers sticking around. Though, maybe don’t take them completely seriously with financial claims.