Benzinga - Kickboxer and internet personality Andrew Tate on Wednesday slammed the cryptocurrency markets.
What Happened: In a YouTube video, Tate claimed that every word he speaks can become a cryptocurrency, while also mentioning that he does not endorse any crypto linked to him, such as “Tate Coin,” “Top G Coin,” or “Psyop Coin.”
"Every single word I say becomes a f***ing coin," he said.
Moreover, Tate stated that he has no affiliation with any cryptos because he believes that for someone to profit from cryptocurrency, someone else must lose. "I don’t want anybody who is associated with me to lose."
Tate also claimed that he could single-handedly inflate the value of a cryptocurrency by millions, but he has no interest in doing so.
"I could pump a s**t coin and make it $100 million, but I don’t need it because I already have $100 million," he adds.
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Why It Matters: This comes as an on-chain data analyst revealed that Tate is the creator of a cryptocurrency called S*UTS and is attempting to profit off his fans.
According to on-chain analyst Crypto Trending, the first-ever transfer from the S*UTS wallet was made from Tate's own wallet containing a whopping $6.2 million worth of Ethereum (CRYPTO: ETH).
1) As you can see, the first ever transfer was made from his own wallet containing 6.2m$ worth of ETH , see down below pic.twitter.com/WqnOtVoTAEPrice Action: At the time of writing, ETH was trading at $1,824, up 0.05% in the last 24 hours, according to Benzinga Pro.— Crypto Trending (@_CryptoTrending) May 15, 2023
Read More: Bitcoin, Ethereum, Dogecoin Trade Mixed On Biden’s Promise On Debt-Ceiling: On-Chain Analysis Hints King Crypto In Early Bull Phase
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