Andrew Tate, the 38-year-old former kickboxer and social media personality, lost nearly three-quarters of a million dollars on Tuesday, following a crypto market slump that pulled Bitcoin down below the $95,000 mark for the first time since May.
Blockchain analysis by Arkham Intelligence on Tate’s address showed a rapid depletion of his funds before he could make a single successful withdrawal. The former athlete deposited $727,000 into decentralized perpetual exchange Hyperliquid, where he placed a long leverage bet on Bitcoin.
The market slump wiped away the whole amount as he attempted to recover funds through referral rewards totaling $75,000 on his link. However, all of Tate’s holdings were locked in losing positions until they were fully liquidated.
Andrew Tate suffers Hyperliquid trading catastrophe
According to Andrew Tate’s trading records shared by X user StarPlatinum, he placed a leveraged long on Ethereum with 25× leverage in June, losing $597,000 in a single trade. Tate had tried hiding his losses, but he forgot or probably did not understand that it was a DEX, so his wallet was found and discovered to have been $600,000 deep in red.
Cryptopolitan reported in September how he took a long position on WLFI just before the token’s unlock, which resulted in a loss of $67,500. An attempt to reopen the trade minutes later led to more profit shedding, and he went quiet for a few weeks afterwards.
He did register one profitable trade in August, a small short on YZY that earned $16,000. However, this gain was short-lived, as subsequent trades erased the profit almost immediately. November 14’s Bitcoin long at 40× leverage wiped out $235,000, leaving the influencer with a balance of just $983.
Over the course of several months, Tate executed more than 80 trades, achieving a win rate of just 35.5%. His total profit and loss (PnL) in this period amounted to a net loss of $699,000, where more than 65% of Tate’s net worth in tokens he promoted himself was consumed.
Andrew Tate’s main Ethereum wallet has about $65,000 in it, largely in ETH and low-cap tokens that he got through swaps. His wallet on the Solana blockchain holds over $140,000, most of which is in memecoins.
The DADDY token alone accounts for $91,000, the TOPG token holds $5,000, and the remaining tokens are small positions that have fallen between 70% and 90% in value in the last month.
Crypto Twitter blasts Tate for wrong trade moves
Crypto Twitter has called Andrew Tate “the only cobra that bites itself” and “one of the worst traders in crypto” due to his string of losses. “Based on this trading record, Andrew Tate might be one of the worst traders in crypto. And people still pay him for advice,” said one market watcher.
Lookonchain posted a ranking of the most-liquidated traders on Hyperliquid since November 1, where Tate ranked third with 19 liquidations, behind Jeffrey “Machi Big Brother” Huang’s 71, and James Wynn with 26.
Wynn quoted Lookonchain’s update to mock the American and British former kickboxer, writing: “Hahahahhahahaa I beat you Cobratate you’re a fucking loser. 26-19, numbers speak for themselves. Try harder, be more reckless G.”
Tate has spent years promoting crypto in his messages on financial independence, giving his social media followers so-called “business courses.”
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