Andrew Tate, in a post that he has since deleted, today announced his intention to launch his cryptocurrency backed by $100 million of his funds.
Tate, who has a large following on X (formerly Twitter), posted a tweet on February 1, 2024, proposing the idea of creating a new digital coin and offering early access at a discount to members of University.com, a platform he owns that teaches users how to accumulate wealth in “The Real World”.
Tate’s proposal comes as a surprise to many, since he was previously known for being a vocal critic of cryptocurrencies.
For instance, in a podcast interview with Anthony Pompliano in 2023, Tate said he refused to “rob” his followers like other celebrities and claimed he had turned $600,000 into $12 million by investing in Bitcoin.
Tate Reaffirms that He is Not Out to Rob His Fans and Followers
Tate’s recent tweet suggests a change of heart towards the crypto industry. He has assured his followers that his fame and popularity would be crucial to the success of his new venture, promising widespread promotion and potential profits for investors.
He also said he would never sell his coin nor scam his followers, implying a long-term commitment and confidence in his project.
Tate’s announcement has generated mixed reactions, with some expressing skepticism and others showing support.
Tate has not revealed any further details about his proposed cryptocurrency, such as its name, launch date, or technical specifications.
In the middle of this new shift, Tate is also facing legal troubles in Romania, where he lives and operates a webcam business.
He and his brother Tristan were arrested in December 2022 on charges of human trafficking and rape and a good chunk of their property has since been seized by the authorities. It is unclear how Tate’s legal situation will affect his crypto venture or whether he owns more crypto than has already been confiscated.