DADDY token plunges 24% after Andrew and Tristan Tate arrested in Miami

The Solana meme coin tied to Andrew Tate’s brand slid as the brothers were detained on a UK extradition request and prosecutors raised their combined charges to 59.

SOL

Summary

DADDY, the Solana meme coin built on Andrew Tate’s brand, fell 24% after Andrew and Tristan Tate were arrested in Miami on a UK extradition request. Bedfordshire Police said the brothers were detained on Saturday, while the Crown Prosecution Service approved 38 new charges after reviewing fresh evidence, raising their combined total to 59 and increasing the number of alleged victims from three to seven. Andrew Tate, 39, now faces 42 charges and Tristan Tate, 38, faces 17; both deny every allegation. The selloff left DADDY near $0.0112, down 24% on the day and 22% on the week, with a market value of about $6.7 million and roughly $429,000 in daily trading, underscoring how thinly traded celebrity-linked tokens can swing sharply on legal news.

Terms & Concepts
  • Solana meme coin: A token issued on the Solana network whose value is often driven more by internet culture and speculation than by utility.
  • extradition request: A formal demand by one jurisdiction for another to hand over a person to face charges or legal proceedings.
  • market value: The total estimated worth of a token in circulation, usually calculated from its current price multiplied by supply.