- 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 numerous platforms.
- “Bitcoin could possibly be changed by ether which could possibly be changed by doge,” he mentioned.
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 belongings. FTX Chief Government 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 Improvement Basis.
In his line of questions, Rep. Brad Sherman, a California democrat, mentioned cryptocurrencies themselves are the No. 1 risk to crypto.
“Bitcoin could possibly be changed by ether which could possibly be changed by doge,” he mentioned. That, he mentioned, “could possibly be changed by hamster coin after which there’s cobra coin.”
“What might mongoose coin do to crypto coin?” He joked. A Mongoose – an African animal that may get so long as 2 toes – 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. Doubtless probably 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 all the time have a worth?” Sherman mentioned on the listening to. “I do not know. I simply made it up. It is a joke. Though I mentioned that about hamster coin, after which I came upon there actually was a hamster coin. It is not truthful to check fiat currencies’ present system to what cryptocurrencies aspire to be.”