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Trevor Lawrence denies report of losing $15M out of his signing bonus in crypto

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With Trevor Lawrence looking to move to the Jacksonville Jaguars after he announced the draft last offseason, many people in the league wondered if entering a small market would hurt his support opportunities. Obviously, this was not the case, as he received several opportunities even before his name was put up for the first overall pick. Among them was a deal with Blockfolio, an investment app developer.

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In the light of recent the collapse of the cryptocurrency, the transaction has been brought into a new focus. Lawrence became a hot topic this week after a report surfaced that he lost $15 million after receiving a $24 million signing bonus from his crypto newbie contract, which is now worth just under $9 million.

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But Lawrence denied the reports, taking to Twitter to clear things up:

As Lawrence points out, the story that went viral online (received from Coin Journal via a Betonline.ag tweet) was that he was paid an NFL signing bonus in cryptocurrency. However, it was his signing bonus on a deal with Blockfolio this was paid to him in cryptocurrency and deposited into his Blockfolio account.

It is not known if Lawrence invested in crypto and if so, how much, but given his explanation, it is likely that the impact of the collapse on his pockets is significantly less than these rumors previously indicated.

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Source: sports.yahoo.com

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