Bubblemaps' recent investigation has uncovered substantial insider trading activity involving Andrew Tate’s DADDY token. Insiders reportedly acquired 30% of the token’s supply at its inception, prior to Tate’s social media promotion, cryptobrefing.com reported. These insiders currently hold over $45 million worth of $DADDY. Tate blocked Bubblemaps on X, following the publication.
The DADDY deployer address transferred 40% of the tokens to Andrew Tate. While Tate burned $10,000 worth of the asset, the majority of the tokens transferred by the deployer address remain in his possession.
Although Tate has stated he is not selling any of his tokens and has adhered to this claim, 11 wallets funded through Binance with nearly identical amounts purchased 20% of DADDY simultaneously on June 9th.
Moreover, two groups of wallets linked through a single address, which hold 10% of the supply, purchased tokens before Tate's initial tweet and currently possess $16 million worth.
While Tate has not sold his tokens, the insider activity surrounding $DADDY raises potential risks for traders. Furthermore, Tate retains the 40% of tokens transferred to him, now valued at $64 million, which he has not yet burned, suggesting the possibility of future sales.
This story was originally covered by CryptoBriefing.com.
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