Andrew Tate Earns IDR 1.3 Trillion From Crypto

Andrew Tate, an internet celebrity and former kickboxer athlete. (Photo; Doc. Bouncooltoconomics)

JAKARTA - Andrew Tate, a successful controversial figure, claimed to have made a profit of 85 million US dollars (around Rp1.3 trillion) during the last bull run, by investing in PancakeSwap's decentralized platform. However, Tate's journey in the world of crypto assets is not only smooth.

As reported by CryptoNews, Tate emphasized the importance of distinguishing between speculative meme coins and a truly innovative blockchain project. He argues that the future of crypto lies in real technological innovations, not just a temporary trend. This statement comes amid a speculative market, colored by the sudden spike and drop of meme coins like the recent trending one.

Solana-based meme coin market, in particular, has experienced a tremendous increase. Tokens such as Dogwifhat (WIF), BONK, and SMOG have become leaders in this trend. The meme coin sector from Solana's network soared to 45.9% a day. This phenomenon also triggers the creation of new coins featuring caricatures of public figures, adding to the crowds in the memecoin world.

However, Tate's attitude towards crypto has changed over time. Even though he has gained financial success, Tate expressed concern about the social impact of crypto assets. In a podcast, he even criticizes the lack of social value in many crypto projects. The figure stated that a person can make big money without providing real benefits to society.

His open stance and unconventional views on crypto investment have sparked criticism and skepticism. Tate once expressed his satisfaction when crypto investors lost their funds during the difficult periods in 2022 and 2023. On the other hand, Tate is also facing serious legal issues, on charges of human trafficking, rape, and exploitation of women he strongly denies.