Andrew Tate wants to "crash Solana" with racist memecoins

Andrew Tate is burning US$37 million of his memecoins live. Their prices are rising by thousands of percent. And they have racist names.

Kickboxer and influencer Andrew Tate is getting into the crypto business with a bang. Last weekend, several memecoins bearing his name and face were launched on Solana. And the highly controversial "masculinity guru" used the moment to make a spectacle of himself. He announced that he wanted to "crash" the Solana blockchain.

The developers of Tate's various memecoins sent him tokens worth more than $37 million. Andrew Tate destroyed them and posted a video next to his wallet on X in which he sings "Burn, Baby, Burn" in his pants.

Two tokens did particularly well and topped the Solana memecoin charts for several hours: TopG and Real Ni**er Tate. Both are terms that Tate tweets repeatedly and has made into his brand. The memecoins rose more than a thousand percent overnight and, meanwhile, together reached a market capitalization of more than US$230 million.

After the fire, Tate tweeted, "I am an agent of chaos with no financial goals. It's not about money. It's about sending a message." He also posted several memes of the Joker from Christopher Nolan's Batman, who is known for burning money and causing chaos. He also advertised his "Hustlers Academy," where he teaches young men how to be a "real guy" and "get rich."

"Broadcast this shit at 0 U.S. dollars"

Criticism of the spectacle did not take long to materialize: African-American influencer and trader Ansem tweeted, "Broadcast this shit at 0 US dollars. Every time you guys start this ni**a meta this shit gets funny." Popular Solana influencer Kook wrote: "Andrew Tate you make me sick. Disgusting racist. Leave crypto now."

DeFi Atlas warns, "All this manipulation by Tate with memecoins is a marketing campaign for his own academy. After this campaign, there is a 99 percent chance that his memecoins will be worth nothing. Andrew Tate is making millions off you. Be careful."

Both memecoins have since crashed hard, and Andrew Tate did not mention them again. TopG fell 80 percent from its all-time high, to a market capitalization of US$7.5 million. The racist Tate token still stands at US$27 million.

In the past, Tate was always against crypto. He said it was only for nerds and losers and that he wanted nothing to do with it. More and more celebrities are stepping into the memecoin space, especially Solana. Influencer Caitlyn Jenner and rapper Soulja Boy, for example, launched their own tokens. In most cases, these projects fail with a crash or turn out to be scams, as recently in the case of wrestler Hulk Hogan.