Andrew Tate’s $100M Crypto Launch Proposal Draws Criticism

Andrew Tate pulls a controversial stunt on X crypto community before deleting the post.

Andrew Tate profile in golden background.
  • Andrew Tate’s recent post suggested a reverse stance on crypto.
  • The social media personality shared a big announcement before deleting it.
  • The announcement drew criticism from keen observers.

Flamboyant entrepreneur and social media personality Andrew Tate stirred heated discussions online on Friday after revealing plans to launch his flagship cryptocurrency and back it with millions of dollars.

In a now-deleted post shared on February 2, the self-proclaimed “most famous man alive” told his 8.7 million followers to give him 50K retweets and “it’s a done deal” to launch the cryptocurrency.

Per the deleted post, the cryptocurrency would be backed by $100 million of Tate’s “own money,” which he promised never to divest.   

While Tate’s followers might have welcomed the news, as the influencer promised them an “early discount” on top of making them rich by promoting the coin “everywhere,” notable crypto personalities quickly bashed the idea.

Andrew Tate’s Reverse Stance on Crypto Draws Criticism

Despite deleting the post, Tate’s original announcement didn’t fly under the radar of keen observers, including Stephen Findeisen, a.k.a. Coffeezilla, a popular YouTuber who investigates online scams.

Taking to X, Coffeezilla referred to Andrew Tate’s possible cryptocurrency as a “crypto scamcoin,” noting that the social media personality had backtracked on his earlier sentiments and skepticism about crypto projects.

Coffeezilla was referring to a last year X post of Tate telling his followers that “he did not have anything to do with crypto” projects or their endorsement. Tate reiterated that he was not a “scammer like every other influencer,” noting that he didn’t need to “rob” his fans.

The social media influencer had not shared any other update on the crypto project at press time.

Read about crypto influencer Ben Armstrong quitting his show:
Ben ‘Bitboy’ Armstrong Quits Daily Crypto Livestream Shows

Stay updated on Bitboy’s recent charity plea:
‘BitBoy’ Charity Plea Met with Skepticism and Mockery

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Brian Danga

Brian Danga, a Kenyan crypto reporter, is dedicated to delivering breaking news and updates from the cryptocurrency world. With a background as a Web3 writer and project manager, he recognizes the importance of unbiased reporting. Holding an LLB degree from the University of Nairobi, Brian's analytical skills contribute to his accurate news reporting. His personal interests include cooking, watching documentaries, reading, and engaging in intellectual discussions.