The Breakdown Is the Trump Solana Memecoin Real?
Jun 19, 2024
The podcast discusses the rumors of a Donald Trump-backed meme coin on Solana, SEC's chief crypto enforcer leaving the agency, New York bit license for Crypto Market Maker, surge in US-listed Bitcoin mining companies, and political endorsements in primaries.
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SEC Crypto Chief Departs
- The SEC's crypto enforcement chief, David Hirsch, left the agency, causing speculation.
- Some joked he joined memecoin platform Pump.fun, but Hirsch denied this.
Trump Memecoin Rumors
- Rumors spread of a Trump-backed memecoin ($DJT) on Solana, allegedly spearheaded by Barron Trump.
- The rumor's source, Mike Solana, later expressed regret over covering the story.
DJT Coin's Impact
- The $DJT token drained liquidity from other Trump-themed coins, raising suspicions of a scheme.
- Some speculated it was a "Fed op" to discredit the crypto industry.