Trevor Lawrence pushes back against false claims of crypto investment

Investment in cryptocurrency soared over the last few years and even the NFL got involved, accepting sponsorships from companies devoted to that trade. However, the crypto market has crashed over the last few months and it may no longer be a good idea to get into the game. One of those affected was Trevor Lawrence but not nearly as bad as it was suggested.

SB Nation claimed in a now-deleted message on Twitter that the Jacksonville Jaguars quarterback had lost a good chunk of his rookie signing bonus after investing it in crypto money. Here’s how the tweet read:

"“Last year, Trevor Lawrence announced his entire $22.9M signing bonus would be placed into a cryptocurrency account. Since then, the combined value of that wallet has fallen more than 60%, currently valued around $9M”."

The thing is that this claim was not accurate. Lawrence did not make such thing. Instead, he signed an endorsement with Blockfolio, owned by FXT. In a press release, the aforementioned company said “significant bonus has been paid entirely in cryptocurrency” but never did it state it was the rookie signing bonus after being drafted first overall by the Jaguars. Rather, the young passer got a signing bonus from Blackfolio. Lawrence eventually caught wind of the news and swiftly dismissed it.

Blackfolio is one of many companies that endorse Trevor Lawrence

The claim of Trevor Lawrence losing more than half his rookie bonus after a bad investment got plenty of attention because of its shocking nature. Nevertheless, it turned out to be much ado about nothing.

Once the Jaguars clinched the No. 1 pick in the 2021 draft, the chances of Lawrence going to Jacksonville became 99.9 percent. Someone speculated on social media that fellow quarterback Zach Wilson was going to get better endorsement deals in New York. However, the former Clemson Tiger proved him wrong, signing deals with Bose, Adidas (and Blackfolio). Moreover, he became the first NFL player to be sponsored by Gatorade since Cam Newton.

It’s true that the Jaguars haven’t been good in a while, which could hurt the endorsement potential of their players but Lawrence has had such issues during his tenure. In fact, he was featured on the header of the NFL’s official Twitter account last July.

Also, Lawrence had a not-so-great rookie campaign but there’s a strong chance he will rebound in Year 2 due to the arrival of head coach Doug Pederson and the additions the front office made to the offense this offseason. If he and the Jaguars start racking up wins, he will get a bigger national profile, which in turn could lead to more business ventures in the future.