This is exactly what I assumed when I read the headline. What did you assume when first reading the headline?
You can also read this headline to mean that the labor union lost $42M that they had "invested" in crypto.
What I assumed and what I imagine a lot of people would assume is that the NFLPA invested union funds in crypto which they took a $42 million loss on.
Yes. This
Many of these stories are "Our retirement fund trader decided to bet his entire pool on hideous monkey NFTs and lost it all, even though he was only authorized to buy relatively safe bonds. His manager was completely asleep at the wheel."
Exactly, Ironic. Crypto people trying to rephrase the news and failing spectacularly deserves only a sarcastic Womp Womp.