Jacksonville Jaguars quarterback Trevor Lawrence may have taken a hit in the cryptocurrency crash but is he really out $15 million?
Trevor Lawrence became one of the faces of the cryptocurrency movement in the NFL when he signed a deal with a crytpo app before he was selected No. 1 overall by the Jaguars in the 2021 NFL Draft.
Now, people are looking at the terms of that deal and wondering just how much he’s lost in the recent crypto crash.
According to some, it could be a loss of millions.
“Last year, Trevor Lawrence announced his entire $22.9M signing bonus would be placed into a cryptocurrency account,” SB Nation tweeted. :Since then, the combined value of that wallet has fallen more than 60%, currently valued around $9M.”
The trouble with that claim? It’s a bit misinformed.
Did Trevor Lawrence really lose $15 million in the crypto crash?
Joe Pompliano tried to clear things up on Twitter by explaining the situation.
“Trevor Lawrence signed an endorsement deal with a crypto app called Blockfolio. And he accepted his signing bonus (on the deal) exclusively in crypto….but everyone is reporting it like he received his actual NFL signing bonus in crypto,” Pompliano wrote.
Instead, it seems that Lawrence signed with Blockfolio and got paid part of his signing bonus for that deal in crypto. His $22.9 million signing bonus with the Jaguars was not involved in that account.
That doesn’t mean Lawrence hasn’t lost money in crypto. There just isn’t good evidence that his losses are anywhere in the millions. Until someone can prove he moved his NFL signing bonus into crypto, the numbers don’t add up.
Lawrence is currently getting ready for his second season in Jacksonville after a trying time in 2021. As much as the crypto crash will be a concern, his bigger issue will be getting the Jaguars to improve on last year’s 3-14 record.