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Crypto Token Inspired by Joe Biden Emerges After Donald Trump Jokes About It
The old adage “any publicity is good publicity” appears to be true for memecoins. Even the most fragile type of advertising.
Jeo Boden (BODEN), a crypto joke token referring to a misspelling of US President Joe Biden’s name, rose as much as 25% on Wednesday after his Republican opponent, former President Donald Trump, answered a question from a fan on the subject.
The real estate mogul, reality TV star and populist firebrand was presenting the Trump Cards NFT Gala for holders of digital collectibles that bear their name and image. A few hundred people showed up at his Mar-a-Lago resort in Palm Beach, Florida.
“I don’t like this investment,” Trump said in an impromptu question-and-answer session with the audience after a participant described BODEN to him and said it had a market capitalization of $240 million.
After peaking at $0.42, BODEN fluctuated and at press time was trading at $0.40, still about 15% higher than when Trump made his comment (as it stood).
Trump’s presidential campaign is not currently accepting cryptocurrency donations, but he said at the impromptu meeting that he intends to do so.
When asked, “Can we donate using crypto?” the almost 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’ published through Trump’s social media or other official communications channels.”
His joke didn’t fit the profile, and the “yes” shares in the contract, which will pay $1 if he uttered the word “Boden” by July 1, were little changed at $0.05 – meaning traders they are giving a 5% chance that he will say the word.
CORRECTION (May 9, 2024, 02:38 UTC): Corrects fourth paragraph to say Trump was doing Q&A with the public, not a press conference.