Trevor Lawrence denies report of losing $15M out of his signing bonus in crypto
With Trevor Lawrence set to go to the Jacksonville Jaguars once he declared for the draft last offseason, many people around the league wondered whether landing in a small market would hurt his endorsement opportunities. Clearly that wasn’t the case as he received several opportunities before his name was even turned in for the first overall pick. Among them was a deal with the investment app company Blockfolio.
In light of the recent crypto crash, the deal has been brought into renewed focus. Lawrence became a popular topic this week after a report surfaced that he lost $15 million after taking the $24 million signing bonus from his rookie contract in cryptocurrency that’s now worth just under $9 million.
But Lawrence has refuted the reports, taking to Twitter to clear the air:
Did y’all confuse my @FTX_Official signing bonus with my @NFL one? Carry on… https://t.co/pd7FS198yr
— Trevor Lawrence (@Trevorlawrencee) June 22, 2022
As Lawrence points out, the story that went viral on the web (sourced from Coin Journal, through a Betonline.ag tweet), stated that he was paid his NFL signing bonus in crypto. However, it was his signing bonus on the deal with Blockfolio that was paid to him in crypto and deposited into his Blockfolio account.
That tweet is inaccurate — 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 😂
— Joe Pompliano (@JoePompliano) June 21, 2022
Look how much Trevor Lawrence lost on crypto 👀
(via @CoinJournal, h/t @DavidFurones_) pic.twitter.com/e8oYHTsMEe
— BetOnline.ag (@betonline_ag) June 21, 2022
It’s unknown if or how much Lawrence has invested into crypto, but given his clarification, it’s likely that the impact of the crash on his pockets is considerably smaller than what those rumors previously indicated.
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