Andrew Tate teased the launch of his cryptocurrency token on Twitter, revealing plans to back it with his own money.
In a recent post on social platform X, which was also deleted, Tate proposed supporting a new cryptocurrency backed by $100 million of his own money. He offered early access at a discount to members of his “Hustler’s University” website, which promises to teach them 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.”
Many critics accuse Tate of attempting a pump-and-dump coin offering. Coffeezilla stated that “Andrew Tate is launching a crypto scamcoin.” Coffeezilla, known for busting online scams, was one of the foremost people to criticize Logan Paul for the CryptoZoo controversy.
It is unclear whether Andrew Tate will go further with his cryptocurrency plan, but the fact that he has removed the post about it could mean he changed his mind due to public backlash or for some other reason.
Tate subsequently posted a new message telling his followers to sign up for his email newsletter instead. “I will not explain,” Tate said cryptically. “But the action-takers will find out.”
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.
Also Read: $500K Worth of Bitcoins Seized from Andrew Tate & his Brother in Romania
