Andrew Tate loses $86,000 after eight Bitcoin liquidations

Social media personality Andrew Tate suffered a series of major losses in leveraged Bitcoin trading this week, losing approximately $86,000 over a 16-hour period. The losses, tracked by on-chain analytics firm Lookonchain, occurred on June 17 and 18 as Bitcoin experienced significant volatility.

Tate deposited roughly $100,000 in USDC stablecoin into his account on the Hyperliquid exchange before opening a large, 40x leveraged long position on Bitcoin. The position had a notional value of approximately $3.8 million. As Bitcoin's price fell from around $66,400 to approximately $64,127, it breached his estimated liquidation level of $65,216, triggering an automatic closure of the trade.

Following that loss, Tate immediately reversed his strategy, opening a new 40x leveraged short position valued at nearly $1 million. Bitcoin's price then reversed course, moving upward and causing that position to be liquidated as well. In total, his account was liquidated eight times within 16 hours, leaving a balance of only about $14,219.

This episode is part of a broader pattern for Tate, who has been publicly active in high-risk crypto trading. Lookonchain data indicates he has now been...