“I believe in the meme token,' Biden recently told Candace Owens.
Hunter Biden, the son of former U.S. President Joe Biden, has been posting about his love of all things crypto and blockchain on X, going as far as to say that he previously wanted to sell his art for bitcoin and distribute the art as non-fungible tokens .
While some crypto enthusiasts have responded to these posts by embracing Biden and welcoming him to “Crypto Twitter” with open arms, others see a trend that indicates the launch of a Biden-branded memecoin could be right around the corner. The recent crypto posts began on Friday when Biden responded to a crypto-focused account asking if they’d be able to “help with the crypto vote” for a hypothetical, non-serious presidential run.
Then on Saturday, Bidena work of digital art by artist Beeple, best known as the poster boy of the NFT hysteria of years ago, adding, “When I decided to sell my art I wanted every piece on the blockchain and to accept Bitcoin as payment.
‘The Internet of Money’ by Andreas Antonopoulos really opened my eyes. ”When I decided to sell my art I wanted every piece on the blockchain and to accept Bitcoin as payment.
In addition to Beeple, a number of other blockchain technology proponents and crypto industry insiders were quick to embrace Biden, despite his past controversies. For example, Custodia Bank founder and CEO Caitlin Long, “Hunter went to Yale Law, which is the hardest law school to get into—so the caricature of him never made sense to me. Welcome to CT, Hunter!
” On the other hand, Stranded Energy Investments Founding Partner Adam Ortolf pointed out that those involved with bitcoin or crypto more generally should not be so quick to embrace any celebrity that talks positively about the technology,, “If Jared Fogle from subway logged on and promoted crypto are you gonna look up his Alma Mater and celebrate his voice too?? Call him ‘an OG’ if he mentions the right book title??
” To Ortolf’s point, there is good reason to be skeptical of celebrities who start posting about crypto on X. A large number of celebrities have posted positively about crypto on social media over the years before endorsing or launching their own crypto tokens, which usually end up having charts that look like clear pump and dump schemes some time later. Recent examples from the past couple of years include, memecoins replaced those tokens’ role in the crypto industry by effectively allowing celebrities and content creators to create currencies based around their own personas.
Notably, in, Biden stated, “I believe in the meme token. I’ll do something one day and create a community. There’s really good reasons to do it. ”While the Trump administration has clearly implemented a reversal of this anti-crypto stance, many now hold the view that the pendulum has swung too far in the other direction.
Trump’s second term in office has been, may be jeopardizing the progression of the crypto regulatory bill, known as the Clarity Act, that is currently making its way through the Senate. Largest US Banks to Launch Tokenization Network to Fight Back Against Crypto, Stablecoin Startups"We really believe that this data will be of higher quality than even what traditional brokers may have," the company's chief product officer told Gizmodo.
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