• Andrew Tate, an infamous British-American social media influencer and five-time world kickboxing champion, was arrested in Bucharest, Romania in December 2022.
• Romanian police seized luxury cars, homes and watches from Tate and his associates, as well as hardware wallets containing digital assets worth over a hundred thousand dollars.
• Tate has praised cryptocurrencies as a hedge against inflation while also bragging about using crypto to dodge taxes.
Andrew Tate: Infamous Social Media Influencer Arrested
British-American social media influencer and five-time world kickboxing champion Andrew Tate was arrested by Romanian authorities in December 2022 for charges related to human trafficking, sexual assault and forming an organized criminal enterprise.
Luxury Assets Seized from Andrew Tate
Romanian police seized millions of dollars worth of luxury cars, homes, watches and other items from the accused as well as hardware wallets containing digital assets worth over a hundred thousand dollars. These included 5 bitcoins (BTC) worth about $110k for Andrew himself plus 16 bitcoins held by his brother Tristan amounting to a total of $465k.
Tate’s Praise of Cryptocurrencies
Tate has been known to praise cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) as a hedge against inflation. In December 2022 he even exchanged mutual back-patting with Michael Saylor, CEO of MicroStrategy on this topic.
Tate’s Alleged Use Of Crypto To Dodge Taxes
In January 2023 it was suggested that Tate had made an impressive $600,000 per month employing 75 sex workers whilst dodging taxes through the use of crypto payments. According to the Internal Revenue Service (IRS), bitcoin payouts to performers are classed as employment income which requires taxable payments – something which it seems that Tate had deliberately avoided doing.
Conclusion: A Controversial Figure Under Scrutiny
Andrew Tate is no stranger to controversy having previously boasted about setting up a pornographic webcam business along with other questionable activities such as evading taxes via cryptocurrency payments.. With his current legal woes still ongoing it remains to be seen what the outcome will be for this famous figure who often professes his own brand of wisdom on social media platforms