Andrew Tate, the former kickboxing champion and controversial online figure, is once again diving into risky crypto trades despite mounting losses. After suffering a $67,500 liquidation on his long position in World Liberty Financial’s (WLFI) token earlier this week, Tate immediately re-entered the market with another long, according to blockchain tracker Lookonchain.
This latest setback adds to Tate’s already steep cumulative losses of nearly $700,000 on a single Hyperliquid account. Less than two weeks ago, he also lost heavily on a 3x leveraged short position against Kanye West’s YZY token.
The WLFI token, linked to the Trump family’s decentralized finance project, launched on Monday but faced heavy selling pressure. After debuting at $0.331, the token dropped as much as 36% to $0.210 before stabilizing above $0.242 at press time. WLFI remains down more than 21% since launch, according to CoinMarketCap data.
The sell-off followed a major unlock event, which released 24.6 billion WLFI tokens into circulation, boosting the Trump family’s stake to roughly $5 billion. Founders, including Donald Trump and his sons Donald Trump Jr., Barron Trump, and Eric Trump, still hold locked allocations as part of the project’s structure.
In response to the post-launch dip, World Liberty Financial proposed a governance measure to introduce a buyback-and-burn program. The plan suggests using 100% of protocol-owned liquidity fees across Ethereum, BNB Chain, and Solana to repurchase WLFI tokens from the open market and permanently remove them from circulation.
While the majority of early votes favor the proposal, the governance post did not disclose exact fee amounts, leaving uncertainty over how significant the buybacks’ market impact could be.
