Reportedly Bybit & OKX crypto exchange decided not to support any crypto token inspired by any politician directly.
As we know that Crypto 2024 started with meme token trends and per day thousands of meme tokens launched on Solana, Base, BSC networks. Amid this meme token trend, many tokens inspired by US political figures also launched by Crypto enthusiasts which grabbed huge money inflow.
Currently top political crypto tokens are $MAGA, $Boden, $Trump, $Biden, $TREMP, $RFK, etc.
Market Cap of these meme tokens is in millions of dollars and many crypto exchanges noticed that they can generate huge amounts of revenue from the trade fee of these tokens.
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A couple of weeks ago, Kraken exchange added support for $Boden & $Tremp meme tokens.
As we know that Kraken is a highly regulated crypto exchange, so it was expected that other crypto exchanges would move toward support for such crypto tokens.
HTX (formerly Huobi Global) also added support for some political tokens, following Kraken’s footsteps.
In a strange move, ByBit & OKX crypto exchanges decided not to support any meme tokens inspired by any politician. The executives of these crypto firms believe that adding support for such tokens may attract some legal issues for them.
In the current scenario, the majority of the crypto exchanges are ready to list the $Tremp token, instead $Trump token because $Trump sounds highly political.
$TRUMP, a GOP candidate-themed token with a laser eyes logo, is mainly traded on decentralised exchanges (DEXs). However, it is also listed on smaller centralised exchanges like MEXC, LBank, BingX, and BitMart.
Read also: Hong Kong to Launch Exclusive Licensing System for Crypto-Fiat Conversion Tax
Kraken adds support for political tokens but other exchanges stepping away from such tokens
https://bitcoinik.com/kraken-adds-support-for-political-tokens-but-other-exchanges-stepping-away-from-such-tokens/feed/
https://bitcoinik.com/kraken-adds-support-for-political-tokens-but-other-exchanges-stepping-away-from-such-tokens/feed/
