Reportedly, crypto exchange Bybit & OKX have decided not to support any crypto token directly inspired by a politician.
As we know, Crypto 2024 started with meme token trends and thousands of meme tokens were launched per day on Solana, Base and BSC networks. Amid this meme token trend, many tokens inspired by American political figures were also launched by Crypto enthusiasts, attracting a huge cash inflow.
Currently, the top political crypto tokens are $MAGA, $Boden, $Trump, $Biden, $TREMP, $RFK, etc.
The market cap of these meme tokens is in the millions of dollars and many crypto exchanges have noticed that they can generate huge amounts of revenue from the trading fees of these tokens.
A few weeks ago, Kraken Exchange added support for $Boden & $Tremp meme tokens.
Since we know that Kraken is a highly regulated crypto exchange, it was expected that other crypto exchanges would move towards supporting such crypto tokens.
HTX (formerly Huobi Global) also added support for some political tokens, following Kraken’s lead.
In a strange move, crypto exchanges ByBit and OKX decided not to support meme tokens inspired by any politician. The executives of these crypto companies believe that adding support for such tokens could create legal problems for them.
In the current scenario, the majority of crypto exchanges are willing to list the $Tremp token, instead of the $Trump token, as $Trump sounds very political.
$TRUMP, a GOP candidate-themed token with a laser-eye logo, is traded primarily on decentralized exchanges (DEXs). However, it is also listed on smaller centralized exchanges such as MEXC, LBank, BingX and BitMart.
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