Andrew Tate Implicated in Insider Trading of DADDY Token, Crypto News Reports

Andrew Tate Implicated in Insider Trading of DADDY Token, Crypto News Reports

Cryptocurrency Insider Trading Allegations Against Andrew Tate Crypto news outlet Cointelegraph has reported that former kickboxer Andrew Tate may have engaged in insider trading involving the DADDY token. According to crypto analytics firm Bubblemaps, Tate promoted the token shortly before a group of insider-like addresses purchased a significant portion of the supply. Suspicious Buying Patterns Bubblemaps' analysis revealed that hours before Tate's promotion, 11 wallets acquired 20% of the DADDY supply ($61.4 million) and transferred it to Binance. The timing and scale of these purchases suggest a coordinated effort to influence the token's price. Potential Dumping Risk Bubblemaps also noted that Tate's team holds a substantial amount of DADDY tokens (40% of the supply), which could be dumped at any time. This action could result in significant losses for investors who have purchased the token based on Tate's recommendations. Ongoing Investigation The allegations against Tate are currently under investigation. It is essential to emphasize that he has not been formally charged with any wrongdoing. However, these reports highlight the potential risks associated with investing in cryptocurrencies based on celebrity endorsements. Investors should conduct thorough research and exercise caution before making investment decisions.