The lead singer of the rock band Kiss, Gene Simmons, has confirmed that he still holds cryptocurrencies despite the crypto winter and the collapse of the FTX cryptocurrency exchange. โI am immersed in cryptography. I believe in that," said the rock legend. Noting that he owns several cryptocurrencies, including bitcoin and ethereum, Simmons stressed: "Personally, I'm waiting, but everyone should do their own due diligence."
Gene Simmons Says He's 'Deep Into Crypto'
Rock legend Gene Simmons confirmed Thursday that he still holds cryptocurrencies despite the crypto winter and the collapse of cryptocurrency exchange FTX. Simmons is an Israeli-born American musician, singer, songwriter, actor, and producer. He was the leader, bassist, and co-lead singer of Kiss, the rock band he co-founded with singer-guitarist Paul Stanley.
Responding to a question from the Crypto Housewife at her Moneybag Vodka launch event in Alberta, Canada, about whether she "still holds" her crypto, Simmons said: "Well, I'm not going to suggest or recommend anything. I'm not a financial advisor." The rock legend added:
But since you ask me, yes, I'm into crypto. I believe in that. I have bitcoin, litecoin, ethereum, a few others... Personally, I'm waiting, but everyone should do their own due diligence.
Meanwhile, the bitcoin price is down 64% year to date, while ether is down 66%. The crypto industry has suffered several major explosions this year, including the implosion of the Terra blockchain in May and the collapse of FTX last month.
FTX, Compute North, Voyager Digital, Celsius Network, Three Arrows Capital and Blockfi have filed for bankruptcy after dealing with financial problems. An estimated one million customers have lost billions of dollars in the FTX collapse.
Simmons previously revealed that he owns 14 cryptocurrencies. In June, he said that he had not sold any of his coins despite the cryptocurrency market crash.
In an interview with American Songwriter in May, Simmons said that he found himself thinking about cryptocurrency more often. โGovernments, as you know, now print money when they need it. So, inflation keeps growing more and moreโ, described the rock legend, explaining:
Yeah, it's a game changer. I'm in this big. I have done very well
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