Crypto Millionaire Andrew Tate’s Bitcoin Stash Seized by Romanian Police

• Romanian authorities seized millions of dollars’ worth of assets from Andrew Tate and his associates, including hardware wallets containing digital assets worth over a hundred thousand dollars.
• Tate has expressed an affinity for cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).
• It’s alleged that Tate used crypto to dodge taxes for a pornographic webcam business he set up.

Andrew Tate Arrested in Romania

Romanian police arrested British-American social media influencer and five-time world kickboxing champion Andrew Tate in December 2022 on suspicion of human trafficking, sexual assault, and forming an organized criminal enterprise. The authorities seized millions of dollars’ worth of luxury cars, homes, and watches from Tate and his associates.

Tate’s Crypto Holdings Seized

In addition to the physical items confiscated by the police, they also took hardware wallets belonging to both Andrew and his brother Tristan. These wallets contained digital assets worth over a hundred thousand dollars – five bitcoins (BTC) held by Andrew were valued at about $110k while Tristan had 16 bitcoins equating to $465k. However, it’s unclear whether these were the only crypto holdings belonging to the brothers.

Tate Praises Cryptocurrencies

In December 2022, Altcoin Daily praised Andrew for encouraging people to invest in cryptocurrency such as Bitcoin (BTC) and Ethereum (ETH). This support was reciprocated with Michael Saylor, CEO of MicroStrategy expressing similar sentiments. Despite this public display of enthusiasm for cryptos however, there have been allegations that he used them to evade taxes when setting up a pornographic webcam business.

Taxes Related To Crypto Payouts

The Internal Revenue Service (IRS) states that payouts made in cryptocurrency should be treated as employment income subject to taxation. Nevertheless, it seems that Andrew is still intent on avoiding paying taxes on any crypto earnings he may have received from his questionable activities.

Conclusion

Andrew Tate remains a controversial figure due to his outspoken nature as well as accusations surrounding him related to human trafficking and tax evasion via cryptocurrency investments. It remains unclear how much truth lies behind these allegations but one thing is certain – Romanian authorities wasted no time in taking a bite out of Andrew’s bitcoin stash!

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