Various celebrities are often associated with unethical earnings on cryptocurrencies. The day before, Jimmy Donaldson, better known by his alias Mr.Beast, was accused of this. He is known for his large-scale projects that gather millions of views on YouTube.

Apparently, Jimmy invested certain amounts of money in little-known crypto-assets, and then in one way or another PRed the coins. This led to the growing popularity of the cryptoasset and an increase in its value.

The creator of the YouTube channel Mr.Beast

Jimmy would then sell the coins, thus capitalising on the jumps in their rates. The current situation with Andrew Tate is somewhat similar to what is happening with Mr.Beast.

What cryptocurrencies should not be bought?

As noted by the author of the Bubblemaps Twitter account, prior to his publications, Tate publicly stated that he would not promote any cryptocurrencies to his followers. However, he ended up quickly changing his mind. On 7 June, Andrew began promoting meme tokens on Solana, resulting in more than ten such mentions in 24 hours.

One of the coins on the list is the Germany Token (GER). Tate purchased 30 per cent of its total supply, but in the two months after launch, the crypto-asset sagged in value by more than 99 per cent.

It is important to realise that such a concentration of the asset in the hands of one person allows him to influence its rate. If desired, he can hold the coin, thus limiting the available supply of coins for transactions on exchanges. In addition, there is a scenario of large-scale sale of crypto in case of its growth, which leads to a tangible collapse in value.

Germany Token exchange rate

Another example is the meme token Fuck Madonna. In 24 hours, against the background of Tate’s mention, the asset experienced a surge in the volume of transactions, but at the same speed it fell to almost zero.

Fuck Madonna token rate

With this in mind, it can be assumed that many fans of the internet celebrity who followed his recommendation and purchased the token in question lost money. Usually, inexperienced investors do not manage to close deals in time and prefer to hold crypto-assets after their fall, hoping for a rate recovery.

However, the listed tokens on Tate's list most often died. In other words, not only their rates fell, but also their trading volumes, which illustrate the interest of investors and traders. Under such conditions, digital assets never rise in value again.

A third example is the Fuck Tristan token. After Tate mentioned it, FTRISTAN’s trading volumes rose to $15 million. After a while, though, it too almost completely depreciated in value.

FTRISTAN token exchange rate

According to Cointelegraph’s sources, some of the tweets mentioning meme token tickers Tate then simply deleted from his Twitter. Like this tweet with the MCGA ticker, for example.

Tate’s deleted tweet mentioning the meme token

And here’s how the asset price chart reacted to the Influencer’s message.

MCGA token rate

The meme-token scandals do not end here. Earlier, the Uptober meme token development team accused a popular representative of the crypto community under the pseudonym Jaypeg of organising an advertising scam. He allegedly received tokens to promote the project, sold them at a profit, and then denied that he ever received the digital assets.

Team members claim to have reached an agreement with the Influencer to promote the meme token in exchange for 2 per cent of Uptober’s offering, which was only $2,200.

Jaypeg agreed to the deal and received the funds, but immediately removed his wallet addresses from the Telegram discussion. He later claimed that the addresses were inserted into the dialogue field by accident and did not belong to him.

Representatives of the blockchain community agree to such collaborations for a reason. And although the amount of $2,000 is not a large amount for advertising new cryptocurrency projects, such meme tokens are able to sharply increase in value, which leads to an increase in earnings. Therefore, many famous personalities are willing to turn a blind eye to a relatively small remuneration for the sake of getting the crypto asset before it starts trading.

Cryptocurrency wallet that allegedly belongs to Jaypeg

To investigate, the team turned to popular blockchain analyst ZackXBT, who provided several pieces of evidence that refute Jaypeg’s claims. He found that the receiving address was the same address that claimed airdrop tokens from the Solana Saga smartphone on 10 January 2024. A few hours before that, Jaypeg had posted a video unboxing Solana Saga and a link to the giveaway, meaning it must have been him.


Both stories are a great reminder that there are no people in the cryptocurrency community who want to provide income for other people. Everyone here is concerned with their own profits, and as such, every such advert should be treated with caution. Especially considering that famous people can purchase large portions of coins and thus manipulate the value of the asset.