Benzinga - Controversial political figure Roger Stone has partnered with the Trump-themed MAGA memecoin (CRYPTO: TRUMP), marking a unique move in the meme coin space.
What Happened: The strategic partnership is seen as a move to leverage Stone’s notoriety and political savvy to propel the appeal of MAGA Memecoin.
“2024 is the year of $TRUMP,” Marketing Director Steven Steele declared in a press release, signaling ambitious growth plans for the coming election year:
"We've worked tirelessly for the last 9 months plus to position this project to eventually rival
the likes of Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB).”
Stone, known for his edgy and provocative political maneuvers, was convicted in 2019 on multiple counts including witness tampering and obstruction.
Stone’s career has been marked by his alleged connections with various political and extremist groups, notably appearing alongside Trump during recent campaign events as the 2024 election season heats up.
His sentence was later commuted and ultimately pardoned by President Trump.
Launched in August 2023, MAGA Memecoin has garnered attention for being listed as the biggest holding in Donald Trump’s wallet, with the team sending him 1% of the initial supply.
Beyond the political affiliation, the project has donated nearly $2 million in Ethereum (CRYPTO: ETH) towards fighting child trafficking and supporting homeless veterans.
Also Read: U.S. Senators Lummis, Gillibrand Renew Push For Stablecoin Bill
Why It Matters: As Andrew Kang, Managing Partner at Mechanism Capital tweeted, “Memecoins are now partnering with seriously influential political figures. The permeation of memecoins throughout society last cycle was just a sampler. This cycle we are going deep.”
This observation underscores the deepening integration of meme coins into societal and political frameworks, indicating that this cycle will delve further into substantial partnerships like that of Stone's.
What’s Next: This partnership announcement comes as the digital asset community prepares for Benzinga’s Future of Digital Assets conference on Nov. 19.
The conference will likely address the implications of politically charged meme coins like MAGA in the broader context of financial technology and investment.
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