June 19, 2024

Andrew Tate announces to Launch His own Cryptocurrency

Andrew Tate teased the launch of his cryptocurrency token on Twitter, revealing plans to back it with  his own Budgetget

In a recent post on social platform X, which was also deleted, Tate proposed supporting a new cryptocurrency with $100 million from his own money. He offered early access at a discount to users of his “Hustler’s University” site, which promises to teach to make money quickly.

Tate’s sudden embrace of crypto starkly contrasts his previous statements maligning the industry. Last September, he categorized cryptocurrencies as “Ponzi schemes” and said digital coins have “no inherent value whatsoever.”

His proposal to back a token also comes shortly after Tate mocked crypto investors, saying he told them to invest in Bitcoin at $19,000.

Many critics accuse Tate of attempting a pump-and-dump coin offering. Coffeezilla stated that  Andrew Tate is introducing a cryptocurrency that is being labeled as a scam coin.

Tate’s planned crypto venture is unfolding against the backdrop of his arrest in Romania in December 2022 on charges of human trafficking and organized crime. 

Romanian authorities also seized Tate’s assets, including luxury cars, mansions, and 21 Bitcoins – now worth around $500,000. Tate attempts to recover the seized crypto and other items as his case proceeds.

The sudden pivot to embrace crypto he previously bashed aligns with Tate’s checkered history of running online money-making schemes that regulators have questioned. His foray into the cryptocurrency world will undoubtedly draw further scrutiny from legal authorities.

Also read:$500K Worth of Bitcoins Seized from Andrew Tate & his Brother in Romania

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