Andrew Tate, the ex-kickboxing world champion turned internet personality, has joined the growing list of celebrities experimenting with crypto — but his latest gamble has gone sour.
On-chain data shows a wallet tied to Tate opened a 3x leveraged short position on Kanye West’s newly released YZY token at $0.85. Within hours, the trade was already showing a $16,000 loss.
According to analytics firm Lookonchain, Tate’s overall track record on Hyperliquid has been far from profitable. Out of 80 trades, only 29 have closed in profit, leaving him with a win rate of just 36% and cumulative losses of nearly $700,000.
The YZY token, which launched on Solana last Thursday, saw an explosive debut — surging 1,400% in its first hour — before crashing more than 74% as top wallets collectively cashed out around $24.5 million.
Tate’s Troubled History With Memecoins
This isn’t Tate’s first controversy in the crypto space. In 2023, he was accused of insider trading surrounding his own token, Daddy Tate (DADDY), after insiders allegedly scooped up 30% of the supply before he began promoting it.
By mid-2024, Tate had attached his name to more than 10 Solana-based memecoins, including Roost (ROOST), Germany Token (GER), Fuck Tristan (FTRISTAN), TopG (TOPG), RNT (RNT) and Daddy Tate (DADDY). Almost all of them collapsed by 99% shortly after launch.
Blockchain analytics group Bubblemaps further warned that many of these projects had up to 30% insider allocations, making them highly risky for retail investors.
Celebrity Tokens Continue to Struggle
Tate is far from alone. Over 30 celebrity-backed Solana tokens appeared in June 2024, and nearly all have suffered steep declines — averaging losses of more than 73%.
Other high-profile names involved in similar token launches include 50 Cent, Caitlyn Jenner, Iggy Azalea, and football legend Ronaldinho Gaúcho.
Even UFC fighter Khamzat Chimaev’s “Smash (SMASH)” token faced backlash after reports revealed that 78% of supply was controlled by insiders. Just days later, Chimaev’s manager claimed the fighter had no knowledge of the project and wasn’t directly involved in its promotion.
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