The new generation of “Crypto Kids,” according to “Top G” Andrew Tate, an entrepreneur and social media figure, gained their fortunes by defrauding investors of cryptocurrencies and NFTs during the 2021 crypto bubble, he said in a recent tweet. In his view, the easy money in the cryptocurrency industry has run out, leaving these young people with no practical skills and declining incomes.
Tate’s tweet portrayed these “Crypto Kids” as young adults who spend luxury money on things like Lamborghinis and pricey watches in order to project an appearance of prosperity. On social media, they present themselves as “businessmen” and frequently make up tales about their purported achievements in the corporate world, typically in illogical business sectors like digital marketing businesses.
Tate claims that despite having amassed their riches when it was very simple to get wealthy in the crypto sector via sheer chance, these young billionaires then try to sell the secrets of their money to others. Tate calls these people into doubt, comparing their success to lottery winners, and warns the public not to fall for their tricks.
Tate’s tweet was quickly countered by Billy Markus, co-founder of Dogecoin, who made a direct allusion to Tate’s own business strategy by saying that posting topless images and offering courses to people is where the real easy money is to be found. Markus’ response emphasised the irony in Tate’s critique of the “Crypto Kids,” as both sides appear to be using their success to capitalise on their own niches and market goods and services.
The discussion regarding the legitimacy and durability of riches based on cryptocurrencies, particularly for people who amassed wealth during the 2021 bubble, has been reignited by the interaction between Tate and Markus.
