Is that Lauren Chen, the Russian agent?
TIL: NFT’s are/were the modern equipment of beanie babies
Terrible investment. That was probably like 2 months of his income.
Or it wasn’t. Very possible he was simply gifted the NFT and lied about the price.
A bunch of the early 20s NFT sales were wash sales
Isn’t it worth exactly what the highest bidder will pay? Where would the $155 number come from? Seems like an NFT famously owned by Logan Paul would sell for more than $155 anyway. Not saying he’d make a profit here…
no one else going to point out that Logan Paul is somehow not the worst person in that picture
For anyone wondering, she’s a conservative influencer who worked with BlazeTV, Toilet Paper USA, contributed opinion pieces to RT and, unsurprisingly, has ties to the Russian government.
More specifically, she and her husband founded tenet media, who ACTUALLY FOR REALS laundered Russian money to shitheads like Tim pool and Dave rubin.
How the hell is it even worth $155?
He’s really good at scamming people
oh throw up its lauren chen
What an indictment of our society that this fuck ass ever had that much money and now has more
His net worth is over 2 billion now. It’s revolting.
Where are you seeing such a high figure? This article from 2025 says $150 million. I know he has Celsius and wrestling but 2 billion seems like BS
I also saw $150 million, which is more than he deserves but it’s mostly because of ownership. Wealth snowballs so even if you make terrible life decisions after the initial investments, you usually come out with even more money.
Nah, it’s genius. A fantastic way to laundry money. It’s like buying paintings but you don’t even need to pay someone to appraise it or a good painter with some sort of good technique.
Yeah, but do paintings typically lose almost all of their value? I thought the idea was that the value should either stay the same or go up.
Either way, in this case, it couldn’t have happened to a nicer guy.
The point here is say you are in business with X party but it’s illegal. X party can buy an nft worth nothing or generate one. You buy the NFT for the amount of your bill with X party. You’ve now technically not paid them for whatever illegal thing, instead you bought an nft from them. You could also break this down into multiple NFTs, buying 100 $100 NFTs from various “owners” that don’t link back to X party through shell companies, and you’ve now paid them $10,000 “for pictures of chimps”.
NFTs only exist for money laundering and illicit transfers. Once they’ve been transferred their value no longer matters, the business has been done.
NFTs only exist for money laundering and illicit transfers
And at least to some degree scamming people even if that’s not the main focus. I know a few people that got full on scammed by it
Cash only exists for money laundering and illicit transfers and scamming
For Logan Paul, yes, he wanted it to go up.
But if this painting was laundering at work, the important part is that the seller can point to this transaction as “real”. The IRS or the FBI might be looking into his sudden gains of half a million dollars, but when they do, they find that he sold Logan Paul half a million dollars of art.
The NFT part makes it incredibly easy to generate said art. Before NFTs, rich people would mark up paintings, and those had to go up in value, because they would buy them at 100,000$ and sell them for 200,000$, so the government would see 100,000$ of profit, but the next guy with the painting, he’d have to sell it for 300,000, claiming 100,000$ in profit, and the next guy, 400,000$, you get the idea.
NFTs can lose value in a way real art isnt allowed to because anyone can claim that’s the price, and after the sale, they can be discarded as trash, essentially. New ones can be made in bulk for no effort, and its alright to sell 1000 NFTs at 100$ each, because you can just keep making them and “selling” them and no one has to care about their value in the same way because they’re mass producible without that crashing the market.
Thank you for that thoughtful response. That all makes sense.
Real art can simply be destroyed if you want
You can also just never sell it, but buying it doesn’t help you launder your own ill-gotten money, just other people’s. The issue is creating it. It’s not that big an issue, but NFTs are way more efficient.
Buy it, insure it, get “hacked” and then get your clean money from the insurance.
I kinda wish NFTs were still somewhat popular, they were such an effective indicator for the dumbest people alive.
They still are.
Though MAGA red hats are a really close second.
the mark of the shit, as i see it.
Money laundering?
Certainly my guess. No way he was actually dumb enough to pay over £600,000 just for an image someone could “steal” 1:1 just by copying and pasting.
It was almost certainly a way to move money somewhere while retaining plausible deniability, just like with all the other
scamsprojects he’s been part of over the yearsNo way he was actually dumb enough
Let me stop you right there…
… Have you seen this guy talk? He’s pretty fuckin dumb.
I think it’s the exact opposite - no money actually changed hands. They just sell worthless crap to each other to make it look valuable to suckers.
I mean, this is the same guy who bought a pokemon card for 5 million… but he just turned an 11MM profit on that
That NFT is worth $0
Claim it as a loss on your taxes since it is an investment. Now it is “worth” whatever taxes were paid on 635,000 dollars of income, which I would guess is in the 100K - 300k range.
That doesn’t help that he actually paid $635,000 for it and now it’s worthless.
It’s as if he took half a million dollars and just set it on fire. Being able to claim a loss on his taxes, if that’s allowed (which I’m pretty sure it isn’t), doesn’t really help with that.
Or… He either didn’t actually pay that money… Or the money went to someone or something he wanted to give 635,000 dollars to already, and writing it off on his taxes is an additional side benefit.
NFT? you mean money laundering?
New Fraud Template
it was easy in 2021 as well, miss. We’ve been describing the fatal flaws since day one, after seeing what the ‘’’ tech ‘’’ was like.
And yet this degenerate asshole is worth ~$150M Laying out bare, being ‘smart’ has no bearing on wealth.
