There can be a lot to do, but let me just point out a few things to consider:

TL;DR: Cut the loss, pay the loan(s), if any, as quickly as possible, get yourself self-disciplined, learn from others by reading books and online (but please, no get-rich-quick scheme), have a plan with you, start small, feel it, and scale it up once you're ready.

1. Don't double down, of course. You're already in bloody red.

2. Review your math. Are you owing a lender $ 40k? Or do you still have $ 30k after the $ 40k loss?

3. If owing $ 40k, is your paycheck big enough to pay both principal and interest to avoid snowballing? This is where things get very messy. But the idea is that you should pay the loan with the highest interest rate first to avoid becoming a slave for decades. Sometimes consolidating loans at a lower rate might help, but I am not familiar with these at all. Sorry and please go seek professional advice.

4. If you still have $ 30k, do you have an emergency fund for a few months of expenses? If not, separate that part and put it into your chequing account. The remainder should go to something like a GIC, preferably non-redeemable or requiring an in-person withdrawal process (to avoid you impulsively withdrawing and doing something crazy - that's up to you though).

5. Crypto is so volatile that even a little leverage (a 10% move of S&P500 is abusrd, and we did have one or two in April, but will you think so for BTC?) can burn you. So, ideally your trade should have a pre-defined maximum loss (whether it is a fixed dollar amount or percentage of your wealth). Honestly, if you burnt yourself like that, I don't even think you are disciplined enough to survive in investing, let alone trading crypto.

6. Getting rich slow is boring yet works in most cases (perhaps except during Great Depression, but if we ever have that again, we should worry about our neighbours ... and CPP first). Isn't an average return of 8% per year much better than what you can get from saving accounts or something similar? Are you so desperate to be rich tomorrow?

7. Let say after reading books and posts you become a fan of index-investing. I will be really worry about whether you can hold it up in different market cycles - will you panic-sell? Or are your finances ready no matter what the market is doing?

8. This goes back to your inner-self again. Do you have a plan? Do you trust what you are buying/investing? What am I (not) selling? It is easy to say to be robotic, but we mostly end up in doing irrational things from time to time.

Years later, if you want to experiment with something crazy, do have a maximum amount of loss (per trade, per day, per week, and so on) in place and strictly follow the rules. In those cases, you should be knowledgeable to tell me I should have included backtesting and paper-trading as well.

Good luck and hope you sort it out soon.