Back in early 2021, when quarterback Trevor Lawrence inked his contract with the Jacksonville Jaguars for a $24 million signing bonus, he also signed an endorsement with cryptocurrency.
There’s a little bit of leeway for the youngster, considering everybody was getting into the crypto game around this time last year. However, it’s now 2022, and the crypto market crashed big time, with Bitcoin losing around 57% of its value.
With that being said, Sun Sentinel reporter David Furones displayed a graphic on Twitter, showing that Lawrence may have lost around $15 million after putting his $22 million signing bonus into different cryptos.
This would roughly place the quarterback with only $9 million left from his signing bonus. And granted, the market can always rise again, but OOF…
I don’t want to hear another word about Trevor Lawrence’s decision-making compared to Tua when stuff like this is out there (via Coinjournal[dot]net). pic.twitter.com/VKJ9Ycyy6F
— David Furones (@DavidFurones_) June 21, 2022
Being a diehard Clemson fan, Lawrence just might be the best quarterback to ever wear the orange and white, and I hoped that this unfortunate situation wasn’t true, and he was able to sell before the crash.
Many sports fans and trolls alike were coming for the young quarterback’s head, saying how dumb of a move that was.
Luckily enough, sports and business insider Joe Pompliano set the record straight, noting that Lawrence did NOT lose the $15 million, as he made it clear that he signed an endorsement deal with a crypto app called Blockfolio, and THAT signing bonus was in crypto.
He did NOT put his entire NFL signing bonus in Crypto.
He explained in a thread of tweets:
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
No — the deal with Blockfolio was probably low seven figures, and a small "signing bonus" was paid in crypto.
People are getting confused because they called his initial payment a "signing bonus" & somewhere along the way it seems people thought that meant his NFL signing bonus.
— Joe Pompliano (@JoePompliano) June 21, 2022
Thank God, because if he actually did lose $15 million, this would just be adding insult to injury, considering the absolute train wreck former Jags head coach Urban Meyer left him after his clown job that he tried to call coaching last season.
Then again… he’d still be super rich.
