Andrew Tate’s YZY Short Scores Big, Yet His Trading Record Crashes Hard

The YZY token, a meme coin launched by American rapper and singer Kanye West, has unexpectedly drawn the eye of Andrew Tate.

Amid the chaos of its explosive debut and the next controversy, Tate seems to have made a calculated transfer.

A Uncommon Win?

Lookonchain’s newest findings reveal that controversial social media character Andrew Tate opened a 3x quick place on Kanye West’s new meme coin, YZY, at $0.8524 and sat on a $16,000 revenue on the time of the publish. He ought to nonetheless be within the cash, despite the fact that YZY rebounded barely to $0.70 alongside the remainder of the market.

Nonetheless, regardless of this profitable transfer, his general monitor file in perpetual buying and selling stays questionable. Knowledge reveals that Tate has executed 80 trades on Hyperliquid, however solely 29 have been worthwhile, which displays a win charge of simply 36.25%.

Actually, his buying and selling actions have resulted in staggering losses amounting to $699,000, in what seems to be a sample of poor efficiency within the perps market. Lookonchain tweeted,

“he doesn’t appear to be good at perps buying and selling.”

Tate’s Historical past With Shady Meme Coin Tasks

Bubblemaps and Coffeezilla had beforehand called out Tate for his involvement with a number of doubtful meme cash. Regardless of as soon as claiming, “I’ll by no means endorse any crypto. Why would I injury my followers?” Tate reversed course on June 7, 2024, by diving headfirst into the Solana meme coin frenzy. Inside simply 24 hours, he had promoted over 10 totally different tokens, most of which finally collapsed.

One of many first was GER (Germany Token), which Tate agreed to purchase if the creator referred to as him “fuhrer.” A single cluster managed 30% of the provision, and the token’s worth plunged by 99% in simply two months. He then promoted “Fuck Madonna,” even revealing his personal pockets tackle.

That token spiked to $2 million in quantity nearly immediately earlier than crashing to zero in a single day. Subsequent got here FTRISTAN (Fuck Tristan), which he hyped on Twitter, driving $15 million in buying and selling quantity earlier than the inevitable collapse to zero.

Tate additionally closely promoted TOPG and obtained 58% of the provision. His repeated tweets introduced huge consideration, which pushed the coin to over $300 million in buying and selling quantity. However regardless of the hype, it ended with the identical end result: zero. Different meme cash linked to him – ROOST, RNT, and DADDY – suffered comparable fates.

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