Stephen “Twitch”, the famous DJ & dancer for “Ellen DeGeneres Show” commit suicide this week. The news has shocked the family and media personnel. Twitch rose to fame from the show “So You Think You Can Dance” and was highly active on social media.
As per the news report, he shot himself in the head with a handgun. Media has dug into the case and has talked to a person close to Twitch. It was revealed that the celebrity was heavily invested in cryptocurrency & NFTs.
It was the major part of his investment portfolio since 2021. The insider explained, “Twitch was all in on cryptocurrency & NFTs and he did very well during the bull run”. Unfortunately, the market crashed and took many coins out of the league including Bitcoin which lost 70% of its peak value at $69,000 last year.
Twitch was very vocal about Bitcoin and Ethereum. He called Bitcoin to be the future currency of the world and Ethereum to be one of the most important developer tools. It is believed that Twitch lost million in crypto and NFTs.
Although the reason for his death isn’t clear. The financial loss may have contributed to a lot of stress in the life of a 40-year-old man. He invested in a time when the market was exploding and every day was a bull run.
The same was the case with NFTs last year. Top NFT collectibles like BAYC, CryptoPunks were sold for millions of dollars attracting a huge inflow of funds from retail investors. Little did anyone know that the market crash was just around the corner.
At the time of writing, the market shrunk from making an all-time high of around $3 trillion to stagnating at $870 billion, wiping all the gains it made last year. Twitch was not the only one affected by the crash.
Leading crypto giants like Celsius, Genesis & BlockFi filed for bankruptcy this year. The year 2022 will go down as the worst year for the crypto industry. Intact, there are no signs of recovery yet.
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Paras is a blockchain writer & video creator at Katoch Tubes. In his free time, he loves watching space exploration documentaries & Hollywood movies.