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Accused of human trafficking, sexual assault, and forming an prepared criminal enterprise, Romanian police seized thousands and thousands of bucks well worth of luxury cars, homes, and watches from Tate and his associates.
In a twist of events, the police also seized hardware wallets from Tate and his brother Tristan, containing digital assets well worth over a hundred thousand dollars together, along with five bitcoins (BTC) really worth about $110k for Andrew and sixteen bitcoins held through Tristan, amounting to a total of $465k.
Interestingly, the five seized bitcoins have been held in Andrew’s girlfriend’s wallet, and it’s but to be demonstrated if he holds any different crypto.
It’s no secret that Tate praised cryptocurrencies as a hedge against inflation, however how a whole lot of his fondness for digital currencies is driven by way of personal conviction or economic obtain stays unclear.
In December 2022, Altcoin Daily, a YouTube channel with over one million subscribers, applauded Tate’s encouragement of crypto investment, mainly BTC and ETH.
This aid went as a long way as to warrant a mutual back-patting change with Michael Saylor, CEO of MicroStrategy.
And yet, it appears that Tate’s bitcoin trip might also not be totally above-board. According to a January 2023 YouTube video by Bruce Rivers, a well-known crook lawyer, the former kickboxer bragged about the usage of crypto to stay clear of taxes, with The Mirror record suggesting he made an spectacular $600,000 a month using seventy five intercourse employees and dodged taxes the use of crypto.
The Internal Revenue Service (IRS) lists bitcoin payouts to performers as employment income, accordingly requiring taxable payments, but Tate appears insistent on being above the law.