In the current political landscape, it is surprising to note that the presidential debate between Joe Biden and Donald Trump did not address the issue of crypto. This notable absence had a direct impact on the market, especially on politicized memecoins, known as PolitiFi.
Crypto excluded from the presidential debate!
During the 90-minute presidential debate, there was a notable silence on the issue of cryptocurrencies. Neither Donald Trump nor Joe Biden addressed this hot-button topic, despite its growing importance in the global economy. This omission left the crypto community in suspense, questioning the future of digital currency regulation and adoption in the United States. Their silence is all the more telling because it may reflect a lack of awareness or an unwillingness to discuss a rapidly growing industry and its potential impact on traditional finance.
The lack of mention of crypto during the debate was a disappointment to the crypto community, which had been hoping for recognition, especially from Trump, who is known for his pro-crypto approach. With millions of Americans owning cryptocurrencies, it is crucial that economic issues related to the technology are addressed in national political discussions.
The market was quick to react.
PolitiFi memecoins, which derive their value from political engagement and investor sentiments, saw a significant drop following the debate. Coins like MAGA (TRUMP) and Jeo Boden (BODEN) saw their value drop by 14.1% and 32.5%, respectively. This volatility highlights the sensitivity of these digital assets to major political events.
The lack of discussion of crypto during the presidential debate raises questions about the future of crypto regulation in the United States. As candidates prepare for the next debate, the crypto community remains waiting for clear policy and recognition from political leaders.
The presidential debate highlighted the fragility of PolitiFi memecoins and the need for a deeper political discussion about crypto. Crypto investors and users should remain vigilant and informed, as the political landscape can significantly influence the market.
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