Sporting stars lose millions amid crypto crash
Many stars and celebrities are getting caught up in the crypto market crash right now, with big names losing millions
Most recently, star Quarterback Trevor Lawrence has had $22 million wiped off his cryptocurrency portfolio.
The Jacksonville Jaguars athlete pushed his entire signing bonus into the sector when he decided to accept his wage in digital currency.
The 22-year-old partnered with a crypto tracking app, Blockfolio.
He organised for his entire wage package of $34 million to be delivered in cryptocurrency.
However, Bitcoin has currently lost more than 70 percent of its value, which has sent Lawrence’s paycheck nosediving.
His original pay packet is now worth just $12 million, leaving the Quarterback $22 million out of pocket.
Investors are selling off riskier assets because central banks are raising interest rates to combat quickening inflation.
The overall market value of crypto assets has fallen from $3 trillion to below $1 trillion.
This expensive nightmare for Lawrence follows a string of other top athletes like NFL star Odell Beckham and NBA player Andre Iguodala also losing millions.
Rafa Nadal pulls out of French Open
The Spaniard has failed to regain full fitness from a hip injury sustained earlier this year
Rafa Nadal has delivered news that no tennis fan wanted to hear.
The King of Clay will miss the French Open after failing to regain full fitness from a hip injury suffered at the Australian Open back in January.
The 14-time Roland Garros winner says he expects to retire following the 2024 season.
Nadal has dominated the clay court season for close to two decades.
The 22-time Grand Slam champion fronted a widely anticipated press conference at his tennis academy in Mallorca to drop the bombshell, saying its the right thing to do for his body and personal happiness.
“I’ll look to be 100% ready for next year, which I believe will be the last year of my professional career,” Nadal told a news conference at his tennis academy in Mallorca, Spain.
“The evolution of the injury I sustained in Australia has not gone as I would have liked. I have lost goals along the way, and Roland Garros becomes impossible.”
“I’ll not establish a date for my return. I’ll see how my body responds and take it from there,” said the 36-year-old. “If I keep playing at this moment, I don’t think I can be there next year.
“I don’t know if I’ll be able to come back in the highest level and compete for Grand Slams. What I will try to do is to give myself the opportunity to go back to what could be my final year competing at the highest level.”
China expresses concerns about ‘politicisation of sports’
The East Asian nation raised the issue when Premier Li met with the head of the IOC, Thomas Bach
China has expressed concerns to the International Olympic Committee (IOC) about the politicisation of sporting events.
The issue was raised when Chinese Premier Li Qiang met Thomas Bach, the head of the IOC, in Beijing over the weekend.
“China’s efforts to promote the Olympic spirit will never cease, and [China is] ready to work with IOC to oppose the politicisation of sports, and make further contributions to the Olympic movement,” Li said.
It is rare for China to raise such concerns with the IOC in public, and it was the first time it had made such comments since the Winter Olympics in Beijing early last year.
The United States and several of its allies took part in a diplomatic boycott of the Games, citing alleged human rights abuse in China’s far west region of Xinjiang.
Beijing has repeatedly denied the accusation and said it opposes any attempts to politicise sporting events.
Tasmanian AFL team becomes reality
Tasmania will have a team in the AFL after all 18 current teams agreed to the motion
An exciting day for residents of the Australian state of Tasmania today.
Outgoing AFL chief executive Gillon McLachlan confirming Tasmania has been granted the league’s 19th licence.
It follows the nation’s federal government confirming it will cover the $240 million shortfall to fund a new multi-purpose stadium at Macquarie Point.
This has long been viewed as Tasmania’s most significant hurdle for entry into the league.
All 18 clubs supported the state’s bid, before the AFL Commission agreed to a formal ratification.
McLachlan fronted a press conference at North Hobart Oval, alongside Premier Jeremy Rockliff, Acting Prime Minister Richard Marles and a whole host of players.
The CEO says the decision “will finally make [the] competitions truly national”. #trending #featured
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