Violet Vallaya
Controversial figure Andrew Tate, facing charges in Romania for human trafficking and rape allegations that he denies, has weighed in on the cryptocurrency market through a recent post on social media platform X.
“There’s meme coins that’s great,” Tate wrote on X. “But each bull run there are the genuinely technological useful or innovating blockchain coins. Last bull run was Defi land. Made 85M on pancake. Do you know what they are this bull run?”
Tate’s tweet references DeFi Land, a play-to-earn blockchain game that saw significant growth in the last bull run. He claims to have made a substantial $85M profit through PancakeSwap, a decentralized exchange used for trading DeFi Land’s token. The last crypto bull run was in 2020, extending into the early months of 2021.
While Tate doesn’t explicitly name coins to watch for in the next bull run, his comment highlights the potential for innovative blockchain projects to outperform meme coins.
In a recent podcast, he criticized the perceived lack of societal value inherent in many cryptocurrency ventures. “Crypto is the only scenario I can think of where you can make a whole bunch of money while benefiting society zero.”
Tate is currently facing serious charges in Romania, including rape, human trafficking, and forming an organized crime group to exploit women sexually. Tate has maintained his innocence.
The indictment claims that the defendants formed an organized crime group to commit human trafficking in Romania, as well as other countries including the U.S. and the UK. The case names seven alleged victims who claim to have been recruited by the Tate brothers through false promises of love and marriage.
In addition to these charges, questions have been raised about the authenticity of Tate’s claimed net worth. Despite his claims of being a “trillionaire,” reports suggest that Tate’s fortune is likely to be around $200-$350 million. This discrepancy has led to speculation about the true extent of his wealth.
People underestimate that I’m the world’s first trillionaire. When I say this people go, ‘Oh he’s not that rich.’ I am literally the world’s first trillionaire Elon, I win, Tate once said.
What is a bull run in the crypto world?
A crypto bull run is a period of widespread optimism in the cryptocurrency market, marked by rising prices. Imagine a wave of investors feeling confident about the future of crypto, all buying in at the same time. This strong demand pushes prices upwards, attracting even more investors and fueling the positive cycle. It’s like a snowball rolling downhill, gaining momentum as it goes.
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