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Andrew Tate Endorses Bitcoin, Saying Money Is ‘Trash’



Andrew Tate Endorses Bitcoin, Saying Money Is ‘Trash’

Andrew Tate, the viral sensation, has claimed that fiat money is trash, adding that “crypto is amazing for a bunch of things” including as a hedge against inflation.

British-American Tate made the comments during an appearance on the Anthony Pompliano podcast. 

His endorsement may prove to be a double-edged sword, however, as the former professional kickboxer turned lifestyle guru is surrounded by publicity and controversy in almost equal measure.

His business endeavors have been called scams (on one occasion by his business-partner brother) and his hot takes on money and women court the kind of criticism usually reserved only for Alex Jones.

Bitcoin investor Pompliano interviewed the controversial figure in May 2021, but sat on the footage for over a year. Releasing the interview this week, Pompliano thought to add the understated disclaimer, “I don’t agree with everything he says.”

Money, Bitcoin, controversy

In a story that many crypto advocates will be somewhat familiar with, Tate’s financial awakening began when he started researching money. Among the questions Tate asked were: “What is money? How do banks work? How does credit work? How does fractional reserve banking work?”

Eventually those types of questions led him to discover cryptocurrency and Bitcoin, but the path was far from direct. As Tate describes it, he initially began the discovery process mad at not having enough money, and his research only aggrieved him further.

“Then I get more mad,” said Tate, “Because I’m like woah, money’s trash and I don’t have any. Now I’m really annoyed.”

At this point however, Tate’s story takes a rather less than usual turn through a dark and twisted looking glass. His moment of financial awakening prompted the kickboxer to reassess his life and start his own business. 

Beautiful women are an asset class, according to Tate

As Tate considered what avenues to pursue, his unique selling point shifted into focus – his ability to meet lots of women.

“I have like eight girlfriends,” said Tate as he told Pompliano about this “eureka” moment. Tate realized that the “beautiful women” he knew were an “asset class” he could make money from.

Tate began his first webcam business employing women he had met during his travels as a kickboxer. Beginning in England with two women he had met in a romantic capacity, Tate quickly grew the endeavor with help from his brother Tristan.

Today, that business has relocated to Romania and employs around 75 women. They dress in lingerie and talk to lonely men on the internet encouraging the men to tip for the service. Tate and Tristan are open about the fact that they coach the women to concoct sob stories to extract larger sums. In March, when asked about the business by The Sunday Mirror, Tristan told the U.K. paper “it’s all a big scam.”

Tate as financial guru

Tate’s webcam business is not Tate’s only revenue stream. The former Big Brother contestant also owns “Hustlers University,” a business teaching people to make money.

Andrew Tate’s newfound viral status owes a lot to the marketing of this business, which includes fast cars, guns, and girls in bikinis. The result of this campaign looks something like a 14-year-old’s boyhood fantasy, aka Dan Bilzerian’s Instagram account.

Tate however, does not like the comparison between the two, as when Pompliano calls him “The Bilzerian of Eastern Europe” he immediately sets the record straight.

“Dan is more of a customer and I’m more of a pimp,” says Tate.

Hustlers University boasts 100,000 members

The recent notoriety of Tate and the claims of Hustlers University prompted “internet detective” Coffeezilla to investigate. According to Coffeezilla the business has over 100,000 members who each pay a monthly subscription fee of $50.

The basic promise of Hustler University is that Tate can coach his students to become just as filthy rich as him. It’s a well worn business model shared by other such “gurus” as Tommy Vu, John Crestani and Grant Cardone. 

According to Coffeezilla, however, Tate is “far more effective, and maybe dangerous” than most. 

As for the getting rich part, Coffeezilla states that much of the courses at Hustlers University teach students how to market Andrew Tate and Hustlers University. With 100,000 enrolled “students,” to call upon, Tate has an army of marketers to further push his fame and grow his wealth.

Bitcoin trouble ahead

In the 1 hour 40 minute Pompliano interview Tate shares his unique thoughts on a number of topics including money, cryptocurrency, Bitcoin, women, politics, and racism.

While Tate is quick to point to Bitcoin and cryptocurrency as an inflation hedge, he also perceives another advantage.

“I don’t want cash,” said Tate. “I want something else. Give me an asset, okay how can I get an asset the government can’t take? Bitcoin.” 

Tate went on to directly ask Pompliano, “What’s the other answer? You tell me bro, maybe you know something I don’t know – is there anything else?”

As the gears visibly shift in Pompliano’s head, the Bitcoin investor changes topic, choosing not to offer financial ‘can’t touch this’ advice to the man sitting in front of him.


All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Bitcoin (BTC) Nearly Taps $25,000 Level For the First Time Since June



Bitcoin (BTC) Nearly Taps $25,000 Level For the First Time Since June

Bitcoin (BTC) is showing several bullish signs in the daily time frame but has yet to break out from a short-term corrective pattern.

Bitcoin has been moving upwards since reaching a long-term low of $17,622 on June 18. On July 19, it broke out from a long-term descending resistance line, which had been in place since the end of March. 

On Aug. 11, BTC reached a local high of $24,918, which was the highest since June 12. However, it failed to sustain this increase and created a long upper wick in its daily candlestick (red icon).

If the upward movement continues, the closest resistance area would be found at $29,370. This target is the 0.382 Fib retracement resistance level.

An interesting reading comes from the daily RSI, which moved above 50 at the same time which the price broke out from the descending resistance line. 

Since then, the RSI has created an ascending triangle (dashed), which is often considered a bullish pattern. The indicator is currently at 61, right at the resistance line of this pattern. 

Therefore, a breakout above it would likely also cause the price to accelerate upwards.

Short-term BTC pattern

Despite the relative bullishness from the daily time frame, the six-hour chart shows that BTC has been trading inside an ascending parallel channel since the June 18 bottom. Such channels usually contain corrective patterns, meaning that an eventual breakdown from it would be expected. 

Moreover, the price has created what resembles an even shorter-term double top (red icons), which is considered a bearish pattern made at the resistance line of the channel.

On Aug. 9 (green circle), the price rebounded from the midline of this channel and at a short-term ascending support line. 

So, whether BTC breaks out from the channel or breaks down from the support line will likely determine the direction of the future trend.

Wave count analysis

The main wave count indicates that BTC is likely in wave three of a five-wave upward move (black). The sub-wave count is shown in yellow, and also suggests that the price is in wave three. So, this seems to be a 1-2/1-2 wave formation. If correct, it would mean that the upward move will accelerate in the near future. 

In order for the count to remain correct, Bitcoin has to hold on above the slope of the original 1-2 (black).

The most likely long-term wave count is also bullish, aligning with the proposed short-term count.

For Be[in]Crypto’s previous Bitcoin (BTC) analysis, click here


All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Binance recovers the majority of funds stolen from Curve Finance



Binance recovers the majority of funds stolen from Curve Finance

Binance recovered and froze around $450,000 worth of the stolen assets, which is around 80 percent of the stolen funds.

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Binance recovers the majority of funds stolen from Curve Finance

Crypto exchange Binance has recovered a big part of the funds from the recent hack that targeted the decentralized finance (DeFi) protocol Curve Finance. 

In a tweet, Binance CEO Changpeng Zhao announced that the exchange has frozen and recovered $450,000 of the stolen assets, which is more than 80 percent of the stolen funds. According to Zhao, the hacker tried to send the funds to the exchange in various ways but was detected by Binance. The exchange is currently working to return the funds to their rightful owners.

The Curve Finance team detected the hack on Tuesday and alerted their users to refrain from using their website. An hour after the warning, the team announced that it was able to find and resolve the issue. However, the attackers were still able to hijack around $537,000 worth of USD Coin (USDC) before the issue was resolved.

According to experts from the blockchain analytics firm Elliptic, a hacker compromised the domain name system (DNS) of Curve Finance, which ended with malicious transactions getting signed. The experts told Cointelegraph that the funds were then sent to various exchanges and crypto mixers in an attempt to hide the trail. In the end, the funds were sent to Binance and were caught by its team.

Related: Cross-chains in the crosshairs: Hacks call for better defense mechanisms

This is not the first time this week that the good actors in the crypto community have worked to return stolen funds. On Monday, whitehat hackers and researchers returned an estimated $32.6 million worth of USDC, Tether (USDT) and other altcoins to Nomad, following the recent $190 million exploit.

The Curve Finance exploit is only one of the many attacks that happened in 2022. According to analytics firm Chainalysis, $2 billion worth of funds were drained because of cross-chain bridge hacks. This is 69% of the overall stolen amount in the year.

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Institutional staking won’t take off unless asset lock-up solved: Coinbase CFO



Institutional staking won’t take off unless asset lock-up solved: Coinbase CFO

Coinbase’s new institutional-focused staking product won’t be a “near-term phenomenon” while liquid staking is still being worked out.

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Institutional staking won’t take off unless asset lock-up solved: Coinbase CFO

Institutional staking of crypto assets, including the post-Merge Ethereum, could become a “phenomenon” in the future, but not while their assets still need to be “locked up.”

Speaking during a Q2 earnings call on Tuesday, chief financial officer Alesia Haas noted that she didn’t expect their new exclusive institutional staking service, rolled out in Q2, to be a “near-term phenomenon” until a “truly liquid staking option” is available:

“This is the first time we had the products available. Previously, the way that institutions could have access to staking is via Coinbase Cloud […] But offering it as the delegated staking service similar to what we have for retail customers.”

However, Haas said it was still “early days” for their new staking service, adding they’ll likely only see a “real material impact” when they have created a liquid staking option for post-Merge Ethereum, also known as Eth2.

Liquid staking is the process of locking up funds to earn staking rewards, while still having access to the funds. 

Haas explained that many financial institutions “don’t want their assets held indefinitely:”

“So when you stake ETH2 you are locking in your assets into Ethereum until the Merge and then some period after. For some institutions, that liquidity lock-up is not palatable to them. And so, while they may be interested in staking, they want to have staking on a liquid asset.”

Haas reaffirmed this issue is “something we are looking to solve,” and added that once this liquid staking is available for financial institutions that can pool in funds at higher proportions, “we’ll see the real material impact of institutional revenue.”

Related: Coinbase partners with BlackRock to create new access points for institutional crypto investing

Investors and institutions have been able to access Coinbase’s delegated staking service through Coinbase Prime, which was first launched in Sep. 2021. The platform also offers other integrated services, such as access to a custody wallet with enhanced security, real-time crypto market data and analytics, and other crypto-native features like decentralized governance.

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