Political Meme Coins Plunge 6% As Donald Trump And Joe Biden Fail To Mention Crypto In First Presidential Debate

The
first
presidential
debate
between
President
Joe
Biden
and
his
would-be
successor
Donald
Trump
failed
to
mention
crypto,
triggering
a

6%
plunge
in
political
meme
coins
over
the
past
24
hours.

The
absence
of
discussion
around
crypto
was
a
disappointment
to
investors
after
digital
lobbyists
had
raised
millions

of
dollars
to
contribute
to
election
campaigns,
and
after
Trump
had
turn
pro-crypto
and
the
Biden
administration
began
softening
its
hardline
stance
against
the
industry. 

Multiple
crypto-oriented
super
Political
Action
Committees
(PACs)
have
raised
around
$202.8
million
from
key
industry
players.
Meanwhile,
$93.6
million
has
already
been
spent
by
these
PACs
to
influence
the
elections.
Despite
this,
the
crypto
space
received
no
mention
during
the
90
minute
debate.

Trump-Linked
PolitiFi
Tokens
Among
The
Biggest
Losers
After
Presidential
Debate

The
collective
market
cap
of
so-called
PolitiFi
tokens
stood
at
just
over
$1.144
billion
as
of
3:35
a.m.
EST
as
Trump
Mania
(TMANIA),
Hunter
Boden
(HUNTBODEN)
and
Jeo
Boden
(BODEN)
all
suffered
losses
exceeding
30%.

Biggest
political
meme
coin
losers
(Source:


CoinGecko)

TMANIA
was
the
biggest
loser,
registering
a
loss
of
more
than
40%.


Super
Trump

(STRUMP)
and
BABYTRUMP
(BABYTRUMP)
joined
the
top
5
biggest
losers
list
as
well

Polls
Show
Voters
Are
Not
Too
Concerned
With
Crypto

Gallup


polls

from
May
show
that
voters
aren’t
too
concerned
about
crypto.
The
US
economy
in
general,
high
living
costs,
the
federal
budget
deficit,
unemployment
and
the
gap
between
the
rich
and
the
poor
were
the
biggest
economic
problems
that
voters
are
focusing
on,
according
to
the
polls.

Although
voters
seem
to
prioritize
other
economic
issues
above
crypto,
several
industry
players
still
believe
that
digital
assets
could
be
a
major
factor
in
the
outcome
of
this
election. 

If

@joebiden
loses,
there
is
a
good
chance
you
will
be
able
to
thank

@GaryGensler
and
the

@NewYork_SEC
Crypto
is
a
mainstay
with
younger
and
independent
voters.
Gensler
HAS
NOT
PROTECTED
A
SINGLE
INVESTOR
AGAINST
FRAUD

All
he
has
done
is
make
it
nearly
impossible
for…

https://t.co/uBKupxLhS9

—
Mark
Cuban
(@mcuban)

May
10,
2024

Shark
Tank
billionaire


Mark
Cuban

has
warned
Biden
that
his
loyalty
to
the
hardline
Securities
and
Exchange
Commission
(SEC)
Chair
Gary
Gensler
could
cost
him
the
White
House.

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