Politicians and memecoins: LIBRA, CAR Coin and TRUMP
There has been much discussion within the crypto world recently due to the launch of new memecoins (a type of crypto currency) by politically prominent figures. A recent example is the LIBRA token, shared online by Argentine President Javier Milei. This token saw a rapid rise in price and shortly thereafter an outflow of tens of millions of dollars in trading liquidity, raising concerns about market manipulation. Also, the Central African Republic (CAR) announced the launch of the CAR token, although there are doubts about the authenticity of this announcement. In the U.S., the $TRUMP memecoin was launched, putting the ethical discussion surrounding political figures in crypto back on the agenda. The value of each of these three tokens has virtually evaporated since its launch.
Sovereign wealth funds embrace Bitcoin: a new trend?
More and more governments and sovereign wealth funds are showing interest in Bitcoin. Following Abu Dhabi’s sovereign wealth fund’s recent investment in BlackRock’s Bitcoin ETF, Standard Chartered’s Geoffrey Kendrick expects more countries to follow. Abu Dhabi’s sovereign wealth fund, Mubadala, has invested $436 million in Bitcoin ETFs. This trend indicates a growing acceptance of Bitcoin as a serious long-term investment, with even pension funds and central banks exploring the possibilities. With growing interest from institutional investors, Bitcoin is gaining a firmer foothold in the financial world.
