The U.S. presidential election is set to take place in November, with the issue of cryptocurrency becoming a major focus. Both Biden and Trump have been actively trying to attract votes from the crypto community. Political tokens have subsequently become a focus, but due to sensitivity, mainstream cryptocurrency exchanges such as Bybit and OKX have stated they refuse to list political tokens like TRUMP.
Every four years, the U.S. presidential election is held in November, with cryptocurrency voters becoming a target for candidates. Biden and Trump have recently been courting the crypto community, sparking a craze for political finance (PoliFi) meme tokens. The most prominent among them is the PoliFi leader TRUMP, which surged over 300% in May.
Although its performance has been relatively low in the past month, TRUMP’s current market value is $350 million, making it the largest PoliFi token by market value.
TRUMP trend chart. Source: CMC
The TRUMP team complains about the difficulty of being listed on mainstream exchanges. Initially, TRUMP mainly traded on decentralized exchanges, but gradually began to be listed on non-mainstream decentralized exchanges, including MEXC, LBank, BingX, and BitMart. However, according to CoinDesk, the TRUMP team complained that it was difficult to get TRUMP listed on mainstream exchanges.
TRUMP’s marketing director, Steven Steele, revealed that the TRUMP team applied to list on the oldest exchange in the U.S., Kraken, in mid-May, but has not received a response to date. He expressed dissatisfaction, stating that these exchanges are refusing to list TRUMP for political reasons, showing embarrassing levels of cowardice and ignoring the current meme token situation and their own customers, which is unbelievable.
While Kraken clearly refused to list TRUMP, its competitor TREMP recently listed on Kraken and also on HTX and other lesser-known exchanges. Kraken also listed a Biden-themed meme token called BODEN.
Is excessive politicization the main reason for rejection? Other exchanges told the TRUMP team that the token is “too political,” so it cannot be listed, even though these exchanges initially stated that it could be listed once it reached a certain trading volume target.
ByBit initially provided the TRUMP team with a trading volume target as a prerequisite for listing on the exchange, but later the representative stated that ByBit’s management refused to list it because it could bring potential political risks to the centralized exchange.
OKX also gave a similar response to the TRUMP team, with a member of the OKX listing team stating that political meme tokens are too sensitive to be listed.
The TRUMP team has not yet applied to list on HTX, which is the only mainstream exchange besides Kraken to list TREMP. An HTX spokesperson stated that they do not rule out listing TRUMP and will consider potential projects and tokens for listing on their platform based on market conditions and trends.
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