The post Lightspeed Newsletter: Candidate coins BODEN, TREMP slumped during the debate appeared on BitcoinEthereumNews.com.

Today, enjoy the Lightspeed newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the Lightspeed newsletter. Howdy!  I had a whole intro ready to go about Taco Bell, but then news broke that 21Shares filed for a solana spot ETF, so I would be remiss not to touch on that. From my initial read-through, the filing is very similar to the VanEck spot ETF filing we covered yesterday, and many of the same potential questions are likely to apply. Check back Monday for that promised Taco Bell intro. US presidential debate sends candidate coins tumbling One X poster quipped that last night’s televised US presidential debate was going to be the Super Bowl for memecoins.  In this particular Super Bowl, both teams appear to have lost: BODEN and TREMP, the candidate-themed memecoins with Microsoft Paint-level artwork, both entered nosedives immediately after the debate began at 9 pm, according to CoinGecko. Other Trump-themed tokens like MAGA and TRUMP saw similar price action. If you’re going to tell a story from this, it’s perhaps that market participants weren’t thrilled with either candidate’s performance, though things went worse for President Joe Biden — who is facing ongoing calls to exit the race post-debate; his memecoin fell more dramatically than Donald Trump’s (on this last point, my condolences, Mr. President).  Nigel Eccles, CEO of BetHog and co-founder of FanDuel, told me he suspects BODEN’s price fell so dramatically because if Biden drops out, “the meme dies” too.  Pump.fun shows a race to capture the next meme if Biden were to exit the race: Potential replacements like Vice President Kamala Harris and California Governor Gavin Newsom have seen several memecoins spring up with their likeness in recent days. But the most lucrative emotion last night may have been disappointment. The only…

---

Filed under: News - @ June 28, 2024 9:22 pm