Controversial YouTuber Jake Paul is well known for his love of cryptocurrencies.
But what are his crypto investments? How much crypto has he lost? And which of his crypto promotions are scams?
Jake Paul’s crypto investments
Jake Paul has been experimenting with investment in the crypto market ever since 2013.
“I invested in Bitcoin when it was $100 when I was 16 years old and it was the craziest, best investment of my life,” Jake said last year while speaking on the YouTube channel of BitBoy Crypto.
“Ever since that moment I’ve sort of been involved in crypto and still investing to this day, buying Bitcoin, buying Ethereum.”
In 2018 he claimed his $100 investment in Bitcoin had made $46,000.
What are Jake Paul’s crypto capital investment projects?
Jake Paul has invested a total of $15million in web3 developer Alchemy, blockchain game Blocktopia and Elon Musk’s edtech startup Synthesis.
He has also put money into the blockchain Efinity and into Wider World, a platform that aims to develop a metaverse built on Ethereum, Unreal Engine 5, ZERO and NFTs.
Explaining why he got involved in Wider World, Jake said: “It’s a project far more ambitious than any single artist could create on their own and by assembling the world’s best 3D artists to collaborate on stories, characters, landscapes, and environments.
“I can’t wait to promote my first 3D immersive fight in the Metaverse.”
In one other project to receive Paul’s backing, the influencer was one of 57 to invest a combined total of $4million into Bit.County, which aims to be a platform that allows users to develop their own personalised metaverses.
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What are Jake Paul’s alleged crypto scams?
Finance personality Coffeezilla has accused Jake Paul of making $2.2million from crypto scams.
An investigation by the YouTuber, whose real name is
Stephen Findeisen, alleges the crypto influencer of having abused his position and the trust of his fans to promote a number of dubious crypto schemes.
SafeMoon, Sacred Devils, Yummy, Milf and StickDix, all of which have been promoted by Paul, are accused of being scams.
Coffeezilla alleges Paul took part in”dump and dump” schemes which would see a token surge in value after being endorsed by celebrities, who would then cash out before a price crash.
The crypto influencer is claimed to have promoted the coins without making clear that he had a vested interest.
After promoting the schemes, a significant number of the tokens would be dropped into an anonymous crypto wallet owned by the 25-year-old. He would then be able to exchange the coins before they dropped in value.
Coffeezilla claimed he exposed Paul’s involvement in the scams after managing to link the anonymous wallet with the influencer’s public account.
Paul is already facing a class action lawsuit from investors in SafeMoon who accuse him of luring them to put money in the token with misleading promotions.
In total he is thought to have made:
- $139,000 – Sacred Devils NFT
- $1.56million – StickDix
- $190,000 – SafeMoon
- $50,000 – Milf
- $300,000 – Yummy
Paul has never spoken publicly about the claims.
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How much has Jake Paul lost from crypto?
Paul is thought to have made considerable losses in May 2022 when the crypto market crashed.
While it is unknown exactly how much he lost, his older brother Logan Paul – who himself lost $500,000 following the plunging prices – said Jake was now “poor”.
Appearing to acknowledge his large losses, in June Jake Paul lashed out at US President Joe Biden for the state of the US economy. He blamed the White House for “plummeting crypto prices” despite the decentralised nature of cryptocurrencies.
What is Jake Paul’s net worth?
Jake Paul makes income from a number of sources outside of cryptocurrencies and NFTs. He also makes money from his YouTube channel and from being a professional boxer.
Jake Paul is thought to have a net worth of $30milion dollars.
In 2018 he was the second-highest-paid YouTube star in the world, making $21.5million before tax.
