Logan Paul says his brother Jake is ‘poor’ after the cryptocurrency market fell.
Just last month, Celebrity Net Worth estimated that Paul was worth around $50million, and it’s believed the Problem Child made $40m fighting last year alone.
Melina Pizano/Matchroom
Logan and Jake started on YouTube before transitioning to boxing where the bulk of their money has been made
However, it appears he has lost large chunks of his fortune after the crypto crash.
Speaking on his Impaulsive podcast, Logan says 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, before Majlak added: “He made like $40m last year.”
That’s when Logan interjected 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.
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Logan, left, and Jake, right, have made a ton of money in boxing, but crypto hasn’t been kind to Jake
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.
The pair were set to meet on December 18. Fury wants to rearrange and may get his wish August 13
His next fight may well be his most lucrative of all, though. Paul is in talks to rearrange the previously cancelled fight with Tommy Fury, younger brother of heavyweight king, Tyson.
Fury’s dad, John, confirmed the talks: “We’re looking at the Jake Paul situation but there’s a long way to go with it.
“That’s still in negotiation and up in the air, the lawyers are dealing with it as we speak.”
That would no doubt bring a big payday to both men and Paul has already stated he will be fighting on August 13, whoever he faces.
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