Andrew Tate says this crypto blockchain ‘will be huge’

Although some of his previous statements could suggest a highly negative view of cryptocurrencies and individuals in that industry, social media personality and former professional kickboxer Andrew Tate has recently endorsed a blockchain he believes will be “huge.”

Specifically, the controversial influencer announced that Venom, the recently launched Layer-0 blockchain by the Venom Foundation on the mainnet, “will be huge regardless” of whether or not his followers on social media buy it on his recommendation, according to his X post on April 14.

As it happens, Tate also referred to the X posts he made earlier, including an invitation to his followers to sign up for a newsletter in which he would tell them “how to get rich with crypto,” and a claim that he had “found one” of the “genuinely technological useful or innovating blockchain coins.”

What is Venom blockchain?

Notably, the Abu Dhabi-headquartered company has launched a Turing-complete “high-caliber project (…) capable of handling over 100,000 transactions per second, (…) designed to support and streamline the economic infrastructures of countries around the world,” according to a press release on April 9.

Furthermore, the organization said that:

“The launch of Venom was nothing short of spectacular, drawing in more than a million users within the first 24 hours. This massive adoption showcases the magnetic appeal of the platform and its significant potential for widespread use.”

Indeed, as Finbold reported back in July 2023, the first regulated chain of its kind based in Abu Dhabi, the United Arab Emirates (UAE), has surpassed one million registered crypto wallets on its network in less than three months after its public testnet launch on April 26, 2023.

Not long afterward, Venom Foundation signed a Memorandum of Understanding (MOU) with the UAE government to develop and implement the National Carbon Credit System as an important step towards using blockchain technology to address environmental challenges and promote sustainability.

Elsewhere, it is also important to note that Venom is a partner of Iceberg Capital, an Abu Dhabi Global Market (ADGM) investment management business, alongside which it has created a $1 billion investment fund for the development of Web3 and blockchain companies.