Former kickboxing champion and controversial online personality Andrew Tate can't resist trading cryptocurrencies. In November last year, Tate's entire balance on the crypto exchange Hyperliq
Former kickboxing champion and controversial online personality Andrew Tate can't resist trading cryptocurrencies.
In November last year, Tate's entire balance on the crypto exchange Hyperliquid got liquidated after the Bitcoin (BTC) crash. He lost his total balance of more than $727,000 during the month.
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Crypto isn't something the controversial personality has been involved with only in recent years. In fact, he has spent the past few years promoting crypto as a reliable tool of financial independence to his millions of followers.
Tate's crypto holdings came to attention when the Romanian authorities seized his assets, including Bitcoin wallets attributed to him, in 2023 while investigating the charges of human trafficking, money laundering, and sexual offenses against him.
He has also launched and promoted meme coins such as Daddy Tate (DADDY), Roost (ROOST), Germany Token (GER), and F*ck Tristan (FTRISTAN), which later crashed amid allegations of insider trading.
On-chain data shows that Tate trades cryptocurrencies on Hyperliquid, a decentralized perpetuals exchange. It has become widely popular due to high-leverage trading, attracting a large number of high-frequency and speculative crypto traders.
The on-chain analysis platform Lookonchain highlighted that Tate, who has been liquidated 107 times, came back to open a 40-times-leveraged long position on 57.36 Bitcoin worth $3.79 million on June 16.
As Bitcoin's price dropped, his short positions in around 28 Bitcoin worth $1.82 million got liquidated as losses became too large relative to the collateral backing the trade.
As Bitcoin's price continued to drop, Tate closed his remaining long position of 29 BTC worth $1.90 million. He avoided a full liquidation by increasing his margin with a $72.11 deposit and suffered a total loss of $95,478.
Andrew Tata's Bitcoin transactions on Hyperliquid, Source: Hypurrscan When Tate's entire long Bitcoin position got closed, it didn't dissuade him at all.
Andrew Tata opens short Bitcoin position, Source: HypurrscanNext, he opened a 40-times-leveraged short position on 14.33 Bitcoin worth $934 million on June 17.
BTC/USD, Source: DecibelBitcoin was exchanging hands at $65,257 at press time, as per Decibel.
Related: Andrew Tate questions after MicroStrategy fails to move Bitcoin
