Blockchain
Joe Biden-inspired crypto token surges after Donald Trump joked about it
The old saying “any publicity is good publicity” seems to be true for memecoins. Even the flimsiest type of advertising.
Jeo Boden (BODEN), a joke crypto token that refers to a misspelling of US President Joe Biden’s name, rose as much as 25% on Wednesday after his Republican challenger, former President Donald Trump, responded to a question about a fan about it.
The real estate mogul, reality TV star and populist brand was hosting the Winning Card NFT Gala for owners of digital collectibles bearing his name and likeness. A few hundred people were present at his Mar-a-Lago resort in Palm Beach, Florida.
“I don’t like that investment,” Trump said during an impromptu question-and-answer session after an attendee described BODEN to him and said it had a market capitalization of $240 million.
After peaking at $0.42, BODEN has fluctuated and as of this writing was trading at $0.40, still up about 15% from when Trump made his comment (as well as ‘era).
Trump’s presidential campaign does not currently accept cryptocurrency donations, but he said during the impromptu meeting that he intends to do so.
To the question: “Can we donate using cryptocurrencies?” the all-but-certain GOP nominee responded, “If you can’t, I’ll make sure you can.”
The contract defines a “mention” as “a verbal use of the word ‘boden’ specifically in reference to cryptocurrency” or “any written use of the word ‘boden’ posted through Trump’s social media or other official communications channels.”
His joke didn’t fit the bill, and the “yes” odds in the contract, which will pay $1 if he says the word “Boden” by July 1, were little changed at $0.05 – meaning traders they give a 5% chance that he will say the word.
CORRECTION (May 9, 2024, 02:38 UTC): Corrects fourth paragraph to say Trump was doing a question-and-answer session with the audience, not a press conference.