Central African Republic’s -95% memecoin crash is a repeat performance
The Central African Republic reportedly launched its own memecoin over the weekend. However, despite it being the world’s first nation-state memecoin and the first sovereign token on the Solana blockchain, all the launch managed to do was prove to the world that the country isn’t serious about communicating the truth about its crypto policies. A Sunday tweet from President Faustin-Archange Touadéra announced the launch of CAR, calling the token “an experiment designed to show how something as simple as a meme can unite people, support national development, and put the Central African Republic on the world stage.” Unfortunately, the launch gave the definite impression that it wasn’t supposed to be seen, much less understood, by the majority of the country. For example, Touadéra launched CAR at midnight in the Central African Republic, the post was in English, not French, and the launch occurred during the US Super Bowl. And as if that weren’...
