Andrew Tate’s Hyperliquid Losses Exposed

Controversial internet figure Andrew Tate has faced criticism following claims that he made a substantial profit from a high-risk trade on Hyperliquid, a decentralized finance (DeFi) platform.

In a now-deleted Tuesday tweet, Tate boasted about a short-lived profit of around 138% on a 25x leveraged Ethereum (ETH) long position. The self-proclaimed trading guru urged his followers to join Hyperliquid, claiming he was making huge profits.

Public fallout

However, things took a turn after blockchain analysts tracked his wallets and revealed that the situation was much darker than Tate had portrayed. One user, Crypto Beast, claimed Tate was down by around $600k. The incident has sparked conversations about the risky nature of leveraged trading and the responsibility of crypto influencers.

Tate entered his ETH position at $2,515.90. As the price briefly climbed to $2,655.30, his profits surged. But the gains were short-lived. With such high leverage, even slight price drops wiped out large portions of his portfolio. At one point, his open position was down to just $146,267, far below his starting value.

While his post showed an unrealized profit of $40,091 and a 24-hour gain of $16,721, the overall account history painted a more sobering picture. Tate deleted his earlier post shortly after his heavy losses were uncovered.

Crypto users were quick to criticize Tate’s support for Hyperliquid, with some claiming his hype could backfire. This isn’t the first time Tate has stirred controversy in the crypto world.

In late 2024, YouTuber Coffeezilla called him out for promoting questionable meme coins despite having previously trashed the crypto industry. Now, with this Hyperliquid episode, his credibility as a crypto commentator is under more pressure than ever.

Interestingly, the drama appeared to boost interest in Hyperliquid briefly. Its native token, HYPE, jumped 12%, and open interest in its futures market spiked to $1.68 billion. Trading volume surged by 147% as the story gained traction.

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