Source: Medium
The memecoin craze that once fuelled overnight millionaires and viral social trends has entered a new chapter — one that’s now raising red flags across the globe. In a week marked by volatility and suspicion, cryptocurrencies themed around Andrew Tate and Donald Trump have come under scrutiny, following widespread allegations of coordinated manipulation and financial deceit.
A wave of online chatter across platforms like X, Reddit, and Discord has propelled the phrase “Andrew Tate Trump crypto scam” into trending territory — stirring unease among Australian traders active in the memecoin space.
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What Happened?
In recent weeks, memecoins linked to polarising internet figures like Andrew Tate and Donald Trump saw massive price spikes, followed by sudden and sharp collapses. While celebrity-themed tokens have long existed as internet in-jokes or satire, these coins were aggressively marketed as “the next Dogecoin” — often by influencers with large followings and little financial transparency.
In the case of the Tate coin, self-described members of the “Hustler’s Crypto Army” pushed buy-ins via Telegram and Instagram with promises of triple-digit returns. For the Trump-themed coin, similarly grand promises were tied to anti-establishment sentiment and free-speech branding.
But within hours of each coin peaking, insiders dumped holdings — sending prices plummeting, wiping out retail investors, and prompting accusations of a classic pump-and-dump.
Matt Shea: From Investigator to Involved?
Adding to the chaos is the unexpected appearance of Matt Shea, the Vice journalist known for his past documentaries on Andrew Tate’s rise. Shea, who has denied direct involvement in any coin promotion, found himself named in speculative threads and memes across crypto forums.
Some users claim a “Shea token” briefly appeared on chain before disappearing — though no credible links tie him to the scandal beyond viral speculation.
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Pump-and-Dump Tactics Evolve — But the Victims Are the Same
This latest episode follows a now-familiar pattern in the memecoin market: flashy branding, fast follower growth, and heavy social media hype, followed by a silent rug pull.
But what’s different this time, analysts say, is the scale of manipulation and the influence wielded by non-financial public figures. Crypto expert Alicia Tang, based in Sydney, warns that these events reveal “how quickly financial narratives can be shaped — and shattered — by personalities with no investment credentials but millions of fans.”
Many of the affected investors were young Australians, particularly those drawn in by Tate’s hyper-masculine brand or the political fandom around Trump.
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The Bigger Problem: Unregulated Influence
Source: Sportskeeda
Unlike traditional financial products, memecoins remain largely unregulated. And while major exchanges have steered clear of directly listing coins associated with controversial figures, decentralised platforms offer little protection against influencer-led schemes.
The result? Crypto influencer manipulation continues unchecked, leaving regulators scrambling and retail traders paying the price.
In Australia, the ASIC (Australian Securities and Investments Commission) has not yet commented on the matter, though calls for oversight are growing. Several financial advocacy groups are urging government action on influencer-led trading, warning that these schemes blur the lines between entertainment and exploitation.
Also Read: Bitcoin 2025: Emerging Trends, Regulation Shifts & Market Outlook
How Did the Coins Collapse?
Blockchain data shows wallets with large holdings — some created within hours of launch — sold off millions of tokens just before prices crashed. Analysts reviewing the data suggest a coordinated dump by early insiders, followed by an orchestrated silence across official social media pages.
Within 48 hours, both the Trump and Tate memecoins lost more than 90% of their value.
Can Anything Be Done?
The broader crypto community is divided. Some believe events like the Andrew Tate Trump crypto scam are the cost of a permissionless market. Others say they highlight a deeper flaw: the lack of clear regulation around promotional crypto activity, especially when driven by personal brands rather than companies or DAOs.
The recent memecoin pump and dump saga may not be the last. But with each crash, the calls for reform get louder — not just from lawmakers, but from a growing crowd of disillusioned retail traders.
Final Thoughts
In the fast-moving world of crypto, personality can be more powerful than product. That truth has turned influencers into market shapers — and, in some cases, manipulators.
Whether or not Andrew Tate or Donald Trump had direct involvement in these memecoins may never be legally proven. But their brands, their audiences, and their digital gravity were undeniably at the centre of a crypto event that cost real people real money.
For now, the lesson is simple: in a market driven by hype and headlines, not every rocket ship is going to the moon.
Read the original coverage via The Guardian
