Daddy Tate, the memecoin built around Andrew Tate, has lost nearly $4 million in market value since news broke of his arrest in the United States on July 18. CoinGecko data shows the token’s market cap was about $8.8 million at that point. This week, it’s down to roughly $4.9 million, a 45% slide in less than a week.
The move closely tracked the legal news. US marshals detained Andrew and Tristan Tate after British authorities issued 38 new charges against the brothers. On July 19, the Crown Prosecution Service said Andrew Tate alone faces further allegations including rape, arranging or facilitating trafficking for sexual exploitation, assault occasioning actual bodily harm, and 19 charges related to indecent images of a child and extreme pornography. In total, that brings the count against Andrew Tate in the UK to 42 charges.
The takeaway here is narrower than a broad call on memecoins: this token is being repriced around developments tied to one public figure, not around protocol upgrades, revenue, or network use trends.