Andrew Tate is once again dabbling in memecoins, but this time his trades are turning costly, with his Hyperliquid account showing nearly $700,000 in losses.
A wallet linked to the former kickboxing champion and controversial influencer opened a 3x leveraged short on Kanye West’s newly launched YZY token at $0.85, only to sit on a $16,000 loss, according to blockchain analytics firm Lookonchain.
“So far, he’s made 80 trades on Hyperliquid — only 29 were profitable (win rate: 36.25%) — with total losses of $699K,” the firm wrote on X Friday, adding Tate “doesn’t seem to be good at perps trading.”
The YZY token, launched Thursday on Solana, saw a massive 1,400% spike in its first hour before crashing over 74%. Data shows 13 wallets made $24.5 million by sniping and dumping the token, leaving retail investors and latecomers deep in losses.
Tate has a history with celebrity-backed coins. In 2024, his “Daddy Tate” token was hit by insider trading allegations after insiders scooped 30% of the supply before he began promoting it. He also endorsed more than 10 Solana-based meme tokens last summer, most of which lost over 99% of their value shortly after launch.
He joins a long list of celebrities whose crypto ventures have sparked controversy or left investors burned, including 50 Cent, Caitlyn Jenner, Iggy Azalea and Ronaldinho.
