Trump–Musk Interview Sparked Acclaim as Polymarket User Won $1M

• The Trump-Musk interview sparked acclaim as a Polymarket user won $1Mby betting on Trump's word choice.
• Pump.fun, a meme coin ICO, launched over 10K coins in three hours, making $5M in fees, more than doubling its previous all-time high (ATH) of $2.3M.
• Users fear an influx of scam meme projects due to Pump.fun's less stringent requirements for new tokens.

The Trump and Musk interview on Monday sparked crypto-wide acclaim. The Pump.fun meme coin ICO skyrocketed in popularity, and Polymarket bets ran wild.

Bettors outdid themselves in predicting what Trump would say or avoid mentioning. One bettor going by the name bama1234'won over $1M after most of his bets proved true.

Simultaneously, the Pump.fun meme coin ICO platform launched 10K new coins within three hours. Many criticized the platform for lowering the listing requirements as user frustration peaked.

Let's unpack the news and see why the Trump and Musk interview sparked crypto-wide acclaim.

Millions of Dollars in Bets on Trump's Words During the Interview

The Trump-Musk interview made Polymarket bets reach insane levels, with people betting on words Trump would use, including:

• Crypto,' with $600K total bets (65% chance)
• Bitcoin,' with $330K total bets (69% chance)
• Tesla,' with $250K total bets (79% chance)

Trump surprised bettors by not mentioning crypto' or Bitcoin' at all, which is unexpected given his pro-Bitcoin presidential campaign.

User bama1234' won $1M by betting correctly on most words Trump said or didn't say during the interview. His biggest win was from betting Trump would not say crypto,' a whopping $336,918.

Polymarket has skyrocketed in popularity recently, especially after Trump's claims of becoming crypto president and making $BTC a strategic reserve.

Pump.fun Coin ICO Launches 10K Coins in Three Hours

Trump's interview with Musk led to a massive influx of meme coin projects on ICO platform Pump.fun. The platform launched over 10K new tokens in three hours and over 23K in the last day.

The platform netted $5M in fees, more than doubling its previous all-time high of $2.3M. However, only 250 tokens (1% of the total) were eventually validated.

Source: Dune

Once a token on Pump.fun reaches a $69K market cap, it's automatically listed on Raydium, a Solana DEX, bringing visibility and liquidity to the project.

The ICO's skyrocketing popularity sparked frustration for many users. Recently, Pump.fun decreased its listing fee from $2K to $2and shortened the launch process from 60 minutes to one minute.

Tyler Stockfield (ANN on X), a crypto consultant, was particularly critical of the platform's approach.

How is this a good thing anymore? Nobody is having fun anymore besides the pump fun team raking in fees.Tyler Stockfield (ANN)

Users are calling for more accountability from the platform, as lowering the entry barriers may have given scam projects more leeway and credibility.

Trump's Every Move Shifts the Crypto Industry

We've reached a point where the crypto industry is waiting with bated breath for Trump's every word. Lately, everything he does seems to influence the space one way or another.

At this pace, the upcoming US presidential elections will significantly impact the crypto industry and Bitcoin.

References

• Polymarket Trump Bets (Polymarket)
• Tyler Stockfield X Post About Pump.fun (X)

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