- Rep. Brad Sherman joked a couple of hypothetical mongoose coin upending the crypto world.
- His jab spurred a number of variations of a mongoose coin buying and selling on varied platforms.
- “Bitcoin may very well be changed by ether which may very well be changed by doge,” he stated.
The Congressional hearing on crypto spurred a brand new meme cryptocurrency: mongoose coin.
On Wednesday, the Home Monetary Companies Committee questioned six crypto leaders about the advantages and challenges of digital property. FTX Chief Govt Officer Sam Bankman-Fried and Coinbase CEO Alesia Jeanne Haas testified on the listening to, together with the heads of Bitfury, Circle, Paxos Belief Firm, and Stellar Growth Basis.
In his line of questions, Rep. Brad Sherman, a California democrat, stated cryptocurrencies themselves are the No. 1 risk to crypto.
“Bitcoin may very well be changed by ether which may very well be changed by doge,” he stated. That, he stated, “may very well be changed by hamster coin after which there’s cobra coin.”
“What may mongoose coin do to crypto coin?” He joked. A Mongoose – an African animal that may get so long as 2 ft – is thought for residing in burrows and consuming different animals, together with cobra snakes.
Following his remarks, a number of mongoose cash began buying and selling on platforms together with Polygon, Avalanche, and Binance Sensible Chain. Decrypt and Mashable first reported the information.
Mongoose coin follows an extended line of meme tokens. Seemingly essentially the most well-known meme coin, boosted by Tesla CEO Elon Musk, is dogecoin. Following dogecoin got here shiba inu coin. Some, like Squid Recreation coin based mostly on the Netflix hit present, have been scams.
“Will mongoose coin at all times have a worth?” Sherman stated on the listening to. “I do not know. I simply made it up. It is a joke. Though I stated that about hamster coin, after which I came upon there actually was a hamster coin. It isn’t truthful to check fiat currencies’ present system to what cryptocurrencies aspire to be.”