Daddy Tate (DADDY), the Solana meme coin built on Andrew Tate’s brand, fell 24% on Sunday. The trigger was the arrest of Andrew and Tristan Tate in Miami, where US Marshals detained them on a UK extradition request.
UK prosecutors also added 38 new charges against the brothers. That lifts their combined total to 59. Once again, the token moved in lockstep with its namesake’s legal troubles.
Tate Brothers Face 59 UK Charges After Miami Arrest
Bedfordshire Police, the UK force leading the case, said in a statement that officers detained the brothers on Saturday. The Crown Prosecution Service (CPS) approved the new counts after reviewing fresh evidence. The number of alleged victims rose from three to seven.
Andrew Tate, 39, now faces 42 charges. The new ones include seven rape counts, three trafficking counts, three assault counts, and 19 charges tied to indecent images of a child and extreme pornography. Tristan Tate, 38, faces 17 charges after six new counts, including two of rape.
The alleged offenses date from July 2010 to August 2017. Prosecutors want the brothers extradited on all 59 counts. Both deny every allegation.
They already face a separate trafficking trial in Romania dating back to a 2023 indictment. Markets have seen this movie before, as celebrity meme coins tend to swing hard on courtroom news.
DADDY Token Slides Toward Its February Low
BeInCrypto data shows DADDY near $0.0112, down 24% in a day and 22% on the week. Its market value slipped to about $6.7 million, according to DADDY price data.
The market is also thin. Only about $429,000 traded over the day, so even modest selling moves the price fast. DADDY now sits 96% below its June 2024 peak of $0.2886, and not far above its record low of $0.0045 set on February 6.
The pain started earlier this month. Andrew Tate sold his TATE airdrop for about $23,000 despite a public pledge to hold. Meanwhile, analysts have long warned about the risks of celebrity tokens, which run on hype alone.
The next move now hangs on the extradition hearings. For DADDY holders, the chart matters less than the courtroom.
The post DADDY Token Falls 24% On Tate Brothers’ Arrest and New UK Charges appeared first on BeInCrypto.
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