Bitcoin

After Jake Paul became one of the celebrities charged by the United States Securities and Exchange Commission (<a href="https://finbold.com/topic/sec/" rel="noopener noreferrer nofollow">SEC</a>) for illegally promoting <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrencies</a>, many have started to wonder how much <a href="https://finbold.com/guides/cryptocurrency/" rel="noopener noreferrer nofollow">crypto</a> the American social media personality and professional boxer actually held.Although the specific numbers are unclear, Jake Paul is a known Bitcoin (<a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) enthusiast, <a href="https://www.youtube.com/watch?v&#61;Ezffg0qtAXA" rel="noopener noreferrer nofollow">claiming</a> the flagship decentralized finance (<a href="https://finbold.com/guide/liquidity-mining-definition/" rel="noopener noreferrer nofollow">DeFi</a>) asset was the “best <a href="https://finbold.com/guides/investing/" rel="noopener noreferrer nofollow">investment</a>” of his life as he sat down for a chat with BitBoy Crypto in April 2021.As he said back then:<blockquote>“I invested in <a href="https://finbold.com/topic/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> when it was $100 when I was 16 years old, and it was the craziest, best investment of my life. (…) Ever since that moment, I’ve sort of been involved in crypto and still <a href="https://finbold.com/topic/investing/" rel="noopener noreferrer nofollow">investing</a> to this day, buying Bitcoin, buying Ethereum (<a href="https://finbold.com/cryptocurrency/ethereum/" rel="noopener noreferrer nofollow">ETH</a>).”</blockquote><h2 id="header-0">Bitcoin bet backfires?</h2>However, one year later, during an episode of his ‘Impaulsive’ podcast with co-hosts George Janko and Mike Majlak, his older brother Logan <a href="https://www.youtube.com/watch?v&#61;qsyfkryBigg" rel="noopener noreferrer nofollow">revealed</a> Jake had endured major <a href="https://finbold.com/guides/finance/" rel="noopener noreferrer nofollow">financial</a> losses as he had allegedly invested most of his wealth into the <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">crypto market</a>, which had subsequently crashed.Indeed, as Janko touted Jake’s boxing career, stating that it was “going pretty well,” and Majlak stressed that “he made like $40 million last year,” Logan quickly jumped in to say that “it doesn’t matter; he put it all in crypto. (…) He’s poor.”Interestingly, the YouTuber-turned-boxer had <a href="https://twitter.com/jakepaul/status/1535788374048575489" rel="noopener noreferrer nofollow">blamed</a> US President Joe Biden for the “plummeting crypto prices” at the time, despite some commenters pointing out to him that Jake was the “one of the main dudes <a href="https://finbold.com/guide/pump-and-dump-scheme-definition/" rel="noopener noreferrer nofollow">pumping and dumping</a>” crypto.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/ec871e453e224288b9d23664b4e01cb5.PNG" />Jake Paul&#39;s Tweet. Source: <a href="https://twitter.com/jakepaul/status/1535788374048575489" rel="noopener noreferrer nofollow">Twitter.com</a><h2 id="header-1">Fraud accusations</h2>It seems that one commenter, in particular, was referring to Paul’s <a href="https://finbold.com/analysts-on-safemoon-many-view-it-as-a-pump-and-dump-coin/" rel="noopener noreferrer nofollow">support</a> for the SafeMoon (SAFEMOON), now revamped as SafeMoon V2 (<a href="https://finbold.com/cryptocurrency/safemoon/" rel="noopener noreferrer nofollow">SFM</a>) token, that faced <a href="https://finbold.com/why-safemoon-security-concerns-might-halt-assets-growth-despite-upgrades/" rel="noopener noreferrer nofollow">security concerns</a> and several scandals in 2022, including fraud lawsuits against the network’s executives and celebrity influencers who endorsed it and then allegedly <a href="https://finbold.com/ex-safemoon-marketing-chief-caught-in-12-million-pump-and-dump-scheme/" rel="noopener noreferrer nofollow">sold their holdings</a>.Meanwhile, Jake Paul has been <a href="https://finbold.com/sec-sues-justin-sun-and-eight-celebrities-including-akon-ne-yo-for-fraud/" rel="noopener noreferrer nofollow">charged</a> for illegally promoting Tron (<a href="https://finbold.com/cryptocurrency/tron/" rel="noopener noreferrer nofollow">TRX</a>) and/or BitTorrent (<a href="https://finbold.com/cryptocurrency/bittorrent/" rel="noopener noreferrer nofollow">BTT</a>) without disclosing that he was compensated for it, alongside Lindsay Lohan, DeAndre Cortez Way (Soulja Boy), Austin Mahone, Michele Mason (Kendra Lust), Miles Parks McCollum (Lil Yachty), Shaffer Smith (Ne-Yo), and Aliaune Thiam (Akon).Notably, crypto entrepreneur Justin Sun and three of his companies, Tron Foundation Limited, BitTorrent Foundation Ltd., and Rainberry Inc., also stand accused of the unregistered offer and sale of TRX and BTT as investments through multiple unregistered “bounty programs,” as <a href="https://finbold.com/" rel="noopener noreferrer nofollow">Finbold</a> reported on May 22.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finbold.com</a>.

Crypto and the Problem Child: Is Jake Paul invested in Bitcoin?

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