During the summer of 2024, a cryptocurrency called DADDY became incredibly popular online, causing its value to jump rapidly. The influencer Andrew Tate publicly backed the coin, and since then, his statements and activities have repeatedly caused significant swings in its price.
He was recently arrested, and the price of DADDY dropped significantly as a result. Here’s a breakdown of the situation.
Tate Behind Bars
As an analyst, I’ve been following Andrew Tate’s case closely. While he’s well-known for his kickboxing background, he’s gained significant attention recently due to ongoing legal issues. Over the years, he’s faced several charges across the UK, Romania, and the United States, leading to multiple arrests.
On July 19th, Andrew Tate and his brother, Tristan, were arrested again in Miami. This followed new charges filed by British authorities, totaling 38 criminal counts, which include serious offenses like rape, assault, and human trafficking.
The Crown Prosecution Service (CPS) has announced it will prosecute Andrew and Tristan Tate on additional charges, including rape, arranging or helping with sexual exploitation, and possessing indecent images of a child, according to Malcolm McHaffie, head of the CPS Special Crime Division.
Andrew Tate, who maintains his innocence, is scheduled to go to trial in the UK later this year. In a recent post on X (formerly Twitter), he stated he’s currently being held in a highly secure unit – a Special Housing Unit – with no contact with the outside world or visitors. He even claims his cellmate is a cannibal who yells at night.
Many people on X found his comments troubling, wondering how he was able to post online while claiming to be isolated from the outside world during his imprisonment.
It might be unexpected that he’s still active on social media while in jail, but the performance of the DADDY meme coin isn’t a surprise. Since his arrest, its price has dropped around 40%, now trading at just $0.0092 (according to CoinGecko). Its overall value has also decreased, falling from $8 million to under $5 million.
DADDY: From a Crypto Sensation to a Worthless Token
About two years ago, a cryptocurrency called DADDY emerged as a counterpoint to MOTHER, a meme coin associated with Australian model Iggy Azalea. Andrew Tate, known for his controversial views and support of traditional gender roles, publicly endorsed DADDY, framing it as a symbol of “the patriarchy.”
His support and the initial excitement caused the token’s price to rise quickly, briefly reaching almost $0.30 and pushing its market value towards $100 million.
Unlike typical cryptocurrencies built on solid foundations, DADDY’s value depended heavily on hype and speculation on social media. Therefore, it wasn’t surprising when the price sharply declined, especially after accusations of insider trading against Tate surfaced.
2026-07-24 16:53