The massively popular yet frequently controversy-stirring social media influencer Andrew Tate burnt $11 million of the Top G token – a project he started some months ago. That amounted to 587 million Top G tokens being sent to the Solana Incinerator, removing those tokens from circulation forever.
Tate’s actions nullified 58% of the memecoin from circulation. Only 37% of Top G tokens remain for users to interact with. The immediate cut in the token’s supply caused its price to rise by 130%, taking Top G’s market cap to over $65 million.
The tokens Tate burnt were sent to him by Top G holders, mostly comprising his fans. After the burn, he took to X to let them and the crypto community know, “GUESS HOW MUCH MONEY I’VE MADE TODAY? ZERO.” In the same post, he also said, “IVE MADE OVER 100M TRADE THROUGH SOLANA, IVE TURNED PEOPLE INTO MILLIONAIRES.”
He reposted that post, stating, “Correction. I lost 11 million by setting it on fire ;),” referring to his statement about making zero earlier. Tate’s posts about this event tie into his boastful and arrogant persona, which people believe is a part of his character to keep audiences engaged. This style of content and commentary was what put him on the radar and took him to massive internet fame.
So, his statements do not come as a shock to those acquainted with his online mannerisms. In a post before all this went down, he mentioned that he would “CRASH THE SOLANA NETWORK,” which referred to him burning the Top G tokens. He later shared a screenshot of SOL’s price dropping, taking credit for it and letting his 9.3 million X followers know he had ‘crashed’ Solana.
However, that couldn’t be further from the truth – crypto prices plunged across the board due to BTC’s price dipping below $70,000.
Image by Tim Mossholder from Pixabay
