News broke that influencer Andrew Tate and his brother Tristan Tate have been arrested in Miami, Florida, pending extradition proceedings to the UK. Following the announcement, the price of the Solana-based meme coin DADDY, which they had been promoting, plunged 24% in a single day.

According to BeInCrypto, the UK prosecutor has added 38 new charges against the Tate brothers, bringing the total to 59. This case clearly illustrates how vulnerable meme coins that rely entirely on a celebrity's personal status are to legal risks.

Recently, judicial authorities have been narrowing their surveillance across the entire Web3 ecosystem. Investors should exercise caution, as assets that depend solely on the hype surrounding a specific individual rather than project utility are prone to such extreme volatility at any time. It remains to be seen whether this situation will spread to other celebrity-backed meme coins within the Solana ecosystem.

Related Links