Author: Nancy, PANews
After the US presidential election, the founder of the Polymarket platform, Shayne Coplan, who accurately predicted the election results, was suddenly raided by the US Federal Bureau of Investigation (FBI), which was responded to as a "political retaliation" and received support from Musk. At the same time, the investigation of Polymarket has caused a strong response in the crypto community, and the related MEME coin Free Shayne Coplan (Eagle) has also received a large amount of funding participation.
After the FBI raid, Shayne received support from Musk and others, and the Eagle-themed MEME coin became popular
The prediction market platform Polymarket played an important role in the US presidential election prediction this year, not only receiving a large amount of funding participation, but also accurately predicting the election results, which was considered to be better than traditional public opinion polls.
However, according to a Bloomberg report, sources familiar with the matter revealed that Polymarket is under investigation by the US Department of Justice for allegedly allowing US users to bet on the platform.
The FBI issued a search warrant for Polymarket CEO Shayne Coplan, not only searching his residence in New York, but also seizing his mobile phone and electronic devices.
It is reported that in 2022, Polymarket reached an enforcement agreement with the US Commodity Futures Trading Commission (CFTC), agreeing to prevent US traders from trading on the platform and paying a $1.4 million fine to reach a settlement.
After the FBI raid, Shayne Coplan responded on Twitter after getting a new phone, "It is disappointing that the current administration will make a last-ditch effort at the last minute to go after companies they believe are associated with political opponents. We remain steadfastly committed to maintaining a non-partisan stance, as we have always been, but the current administration should do some self-reflection and recognize that taking a more pro-business, pro-startup stance may be the key to changing election results. Polymarket provided value to tens of millions of Americans in this election cycle and did not harm anyone. We are proud of that. I can say with pride that the future of America, especially the future of American entrepreneurs, has never been brighter. In the face of adversity, we will continue to build."
Coplan's remarks received widespread support from the crypto community and questioned and criticized the actions of the US regulatory authorities, and Musk's public support further boosted the attention to the incident.
At the same time, the MEME coin "Free Shayne Coplan" born around the Polymarket incident has also triggered a market frenzy. DEX Screener data shows that as of the time of writing, Free Shayne Coplan's market value soared to nearly $47 million within a few hours of its launch, a maximum increase of over 1,840 times.
It is worth mentioning that the eagle icon of Free Shayne Coplan not only comes from Shayne Coplan's avatar, but is also a symbol of the United States, in a sense representing the supreme ruling power.
Musk speaks out again on the Peanut incident, and the MEME coin Pnut's market value soars
The investigation of Polymarket and the controversy over the recent death of the American internet celebrity squirrel Peanut have surprisingly similar aspects.
PANews reported earlier that officials from the New York State Department of Environmental Conservation (DEC) arrested Peanut without a search warrant, and this squirrel was euthanized after biting an investigator, which sparked widespread attention and received multiple support from Musk, quickly evolving into a US political movement.
In recent days, after Trump announced that he would lead the US Government Efficiency Department (known as DOGE), Musk has again used the Peanut incident to satirize the current state of the US government.
On November 13, Musk responded to a netizen's question about "the necessity of the US Government Efficiency Department" by saying: "The US is saved by a squirrel and a MEME coin." He then responded with a "peanut" emoji to a post about the US government's useless spending. On November 14, Musk also responded "Yes." when a netizen said "They meaninglessly killed Peanut."
Musk's remarks have made this political drama even more intense, and as the incident has unfolded, the MEME coin Pnut's market speculation sentiment has soared, with its market value skyrocketing to over $2 billion in less than half a month since its launch.
Whether it is the investigation of Polymarket or the euthanasia of Peanut, they have both evolved into a public protest against issues such as regulation, free will, and political motives. The hot speculation of PolitiFi-type MEME coins like Free Shayne Coplan and Pnut also further proves that the crypto market is increasingly becoming a tool for protest and reform in the US.
