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The YZY token, a meme coin launched by American rapper and singer Kanye West, has unexpectedly drawn the attention of Andrew Tate.
Amid the chaos of its explosive debut and the subsequent controversy, Tate appears to have made a calculated move.
A Rare Win?
Lookonchain’s latest findings reveal that controversial social media personality Andrew Tate opened a 3x short position on Kanye West’s new meme coin, YZY, at $0.8524 and sat on a $16,000 profit at the time of the post. He should still be in the money, even though YZY rebounded slightly to $0.70 alongside the rest of the market.
However, despite this winning move, his overall track record in perpetual trading remains questionable. Data shows that Tate has executed 80 trades on Hyperliquid, but only 29 have been profitable, which reflects a win rate of just 36.25%.
In fact, his trading activities have resulted in staggering losses amounting to $699,000, in what appears to be a pattern of poor performance in the perps market. Lookonchain tweeted,
“he doesn’t seem to be good at perps trading.”
Tate’s History With Shady Meme Coin Projects
Bubblemaps and Coffeezilla had previously called out Tate for his involvement with several dubious meme coins. Despite once claiming, “I will never endorse any crypto. Why would I damage my fans?” Tate reversed course on June 7, 2024, by diving headfirst into the Solana meme coin frenzy. Within just 24 hours, he had promoted over 10 different tokens, most of which eventually collapsed.
One of the first was GER (Germany Token), which Tate agreed to buy if the creator called him “fuhrer.” A single cluster controlled 30% of the supply, and the token’s value plunged by 99% in just two months. He then promoted “Fuck Madonna,” even revealing his own wallet address.
That token spiked to $2 million in volume almost instantly before crashing to zero in a single day. Next came FTRISTAN (Fuck Tristan), which he hyped on Twitter, driving $15 million in trading volume before the inevitable collapse to zero.
Tate also heavily promoted TOPG and received 58% of the supply. His repeated tweets brought massive attention, which pushed the coin to over $300 million in trading volume. But despite the hype, it ended with the same result: zero. Other meme coins connected to him – ROOST, RNT, and DADDY – suffered similar fates.
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