Andrew Tate is facing a loss of nearly 700,000 USD on Hyperliquid after shorting Kanye West's YZY token.
Tate's previous involvement in the memecoin market has also been controversial, and this time's results continue to raise questions about his trading ability.
MAIN CONTENT
Andrew Tate shorted Kanye West's YZY token but incurred heavy losses.
The win rate on Hyperliquid is only 36.25%, with total losses nearing 700,000 USD.
Most of the memecoins promoted by Tate in the past have dropped by up to 99% in value.
Who is Andrew Tate?
Andrew Tate is a former kickboxing champion and a controversial social media figure, known for his bold statements and cryptocurrency-related projects.
He has participated in many memecoin projects and promoted tokens on platforms like X, drawing attention from the cryptocurrency community but also raising many concerns about transparency.
How much has Andrew Tate lost on Hyperliquid?
According to Lookonchain, wallets linked to Tate have lost nearly 700,000 USD on Hyperliquid, with only 29 out of 80 trades being profitable.
Specifically, Tate opened a 3x leveraged short position on the YZY token at 0.85 USD but is currently losing around 16,000 USD on this trade alone. His win rate is only 36.25%, a rather low figure for a professional trader.
“He doesn't seem to be good at perpetual trading, with total losses nearing 700,000 USD on Hyperliquid.”
– Lookonchain, blockchain analytics platform, 2025
What makes Kanye West's YZY token special?
YZY is a token launched on Solana by rapper Kanye West, skyrocketing 1,400% in the first hour before dropping over 74% afterward.
According to Bubblemaps, the top 13 wallets made a total of 24.5 million USD by dumping tokens after prices spiked. This is a prime example of the fierce volatility and high risk of memecoins.
What scandals has Andrew Tate been involved in with memecoins in the past?
In 2024, Tate was accused of insider trading involving the Daddy Tate token (DADDY), with 30% of the supply being bought in advance by insiders before he promoted the token.
Many tokens he supported, such as Roost, Germany Token, Fuck Tristan, TopG, RNT, and Daddy Tate, have lost about 99% of their value after being promoted.
“Memecoins promoted by celebrities often have a value of zero and pose significant risks.”
– Bubblemaps, on-chain analytics platform, 2024
The wave of celebrities joining memecoins: Trend or risk trap?
Over 30 celebrity-linked tokens launched on Solana in June 2024, dropping at least 73.23% in value. Names like 50 Cent, Caitlyn Jenner, Iggy Azalea, Ronaldinho, and Khamzat Chimaev were all involved.
The SMASH case of Chimaev is suspected to have up to 78% of its supply owned by the development team. His management even denied the actual involvement of the fighter.
Frequently Asked Questions
How much has Andrew Tate lost on Hyperliquid?
Approximately 699,000 USD, according to Lookonchain.
What is the YZY token?
It is a token launched on Solana by Kanye West, which is highly volatile.
Have the memecoins promoted by Andrew Tate been successful?
Most of them dropped over 99% in value after being promoted.
Should celebrities be trusted when promoting cryptocurrency?
No, as many projects have collapsed or been involved in insider trading.
Are memecoins safe to invest in?
No, they are extremely volatile and high-risk.
Source: https://tintucbitcoin.com/andrew-tate-short-yzy-cua-kanye-west-lo-usd-700k-tren-hyperliquid/
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