DADDY Meme Coin Crashes 40% After Andrew Tate Arrest

The DADDY meme coin plummeted by around 40% after Andrew Tate and his brother Tristan were detained in Miami on July 19. The decline followed new charges filed by UK prosecutors, including rape, human trafficking, actual bodily harm, and offenses related to indecent images of a child. Andrew Tate denied the allegations and claimed he was being held in a Special Housing Unit with strict security measures.

Traders reduced their exposure after the arrest, leading to a sharp decline in the DADDY meme coin's price. The token traded near $0.0092 after the sell-off, according to CoinGecko, while its market capitalization fell from around $8 million to under $5 million.