Scott Melker discusses how Bitmine chairman Tom Lee is reportedly sitting on $9 billion in unrealized ethereum (ETH-USD) losses as the crypto asset has slid below $1,600.

Lee currently owns 4.4% of all ethereum tokens.

“The Daily Wolf with Scott Melker” airs every day at 12:00 p.m. Tune in for your daily dose of all things crypto.

Make sure to also check out Yahoo Finance’s new crypto hub to find the latest crypto-related news.