The most common and most likely answer to this crossword clue is the 8 letter word SQUANDER
I've seen this crossword clue in The Daily Telegraph
S
Q
U
A
N
D
E
R
More clues leading to the result SQUANDER
- Splurge when in Paris at end of June, visiting sister
- Waste squad adopting name with hesitation
- Blue team captures northern queen
- Special pair of queens in 24 down
- Blow chances finally getting question with queen
- Blue is smoother, without question
- Waste in much of piazza bordering messy den
- Lavish show opening with Queen, plus Queen!
- Blue is smoother without question
- Second question read out covering source of nuclear waste
Buddy explains!

The straight part
We know that "Waste" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case waste = squander.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does SQUANDER mean?
SQUANDER verb- To waste, lavish, splurge; to spend lavishly or profusely; to dissipate.
- To scatter; to disperse.
- To wander at random; to scatter.