Andrew Tate linked wallet deposits $1.87 million in HYPE to Binance

A cryptocurrency wallet linked to Andrew Tate has transferred 20,950 HYPE tokens, valued at approximately $1.87 million, to the Binance exchange. This movement follows a period of unstaking from the Hyperliquid protocol.

On-chain data indicates that the initial investment in HYPE was made approximately two years ago, when the wallet purchased 122,827 tokens for roughly $550,000. This position has reportedly yielded a 1,317% return, with total estimated profits reaching $7.24 million. While the deposit to Binance places the assets within reach of the market, no immediate impact on the token's price has been confirmed.

In contrast to the significant gains from holding HYPE, reports suggest the associated wallet has experienced volatility in leveraged trading, including losses exceeding $727,000 on Hyperliquid perpetuals.