From Trump TRUMP Coin to CAR Token: The speculative frenzy of politics + crypto

The CAR incident is not just a myth about the skyrocketing price of a Meme coin, it is also a real example of the combination of cryptocurrency and politics.

In the early hours of February 10, a storm hit the primary market. The President of the Central African Republic, Faustin-Archange Touadéra, suddenly released a video through the official X account, announcing the launch of the state-supported Meme coin CAR and publishing the contract address.

This new token skyrocketed to a market value of US$700 million in just a few hours, with a total increase of 2,000 times! Is the CAR token another myth of wealth creation in the cryptocurrency circle? Or is it a farce in the political and crypto markets?

From Trump TRUMP Coin to CAR Token: The speculative frenzy of politics + crypto

In fact, there were early signs of the CAR token. When Trump launched the TRUMP token in January 2025, people saw how politicians used the crypto market to “harvest capital.”

Trump launched the TRUMP token with the slogan "Make Crypto Great Again", which attracted a large number of speculators in a short period of time, and its token price also experienced a roller coaster-like market. The launch of the CAR token is more like a copy of this model: endorsed by the country and promoted through social media, instantly igniting market sentiment.

When Trump's TRUMP token was launched, its market value once soared, but the giant whale accounts behind the scenes gradually sold off, causing the price to plummet. The CAR token also faces similar risks - concentrated holdings, insufficient liquidity, and it is very easy to become a tool for speculators.

Central African Republic’s Cryptocurrency Trial: Another Big Gamble After Bitcoin’s Legalization

The Central African Republic, an economically backward country with a GDP of only $5.5 billion and a per capita GDP of around $1,000, became the second country after El Salvador to list Bitcoin as legal tender in 2022. President Touadéra has always been a supporter of cryptocurrencies and has said that the crypto market can help the country "leapfrog development."

However, the Bitcoin legalization policy has not brought significant economic improvements to the Central African Republic. Instead, it has been repeatedly criticized for problems such as backward infrastructure and poor policy implementation. Today, the country has once again launched the CAR token, which is officially defined as "a new chapter in the national experiment", but market doubts are still heard.

The doubts behind the surge in CAR tokens: Did the president really issue the token, or was he impersonated by a hacker?

Although the president himself issued a statement, there are many doubts about this incident:

Deepware, a deep fake detection tool, pointed out that there is an 82% probability that the video was generated by AI and not a real recording.

The domain name of the project’s official website was registered only 3 days ago and has been blocked, which is completely inconsistent with the operating specifications of government projects.

The details that it was published at midnight local time and in English rather than French, the country's official language, are puzzling.

Was President X's account hacked? Although there is no conclusive evidence, this possibility cannot be ruled out.

In addition, Jupiter co-founder meow said that the team has contacted the developer who deployed the CAR token and verified some on-chain transactions, but cannot confirm whether CAR is officially supported by the Presidential Office. This makes the incident even more confusing.

Token Economics: High Centralization and Liquidity Risk

The total supply of CAR tokens is 1 billion, distributed as follows:

35% for national development

25% is allocated to creators and businesses

20.7% is used for liquidity pool (but on-chain data shows that it has not been injected yet)

10% for charity

9.3% Public Allocation

However, on-chain data shows that

The largest wallet holds 33.31% of tokens

The second largest wallet holds 25%

The top four wallets control over 70% of the supply

Although the president claimed that CAR tokens have been locked through Streamflow and distributed as planned, the market is still full of concerns about such a concentrated token distribution.

Meme coins, politics, and the crypto world’s trust crisis

The CAR incident is not just a myth about the skyrocketing price of a Meme coin, it is also a real example of the combination of cryptocurrency and politics.

Deep fake technology and information security: The statement released by the president’s X account was detected by AI tools as a high-probability fake, which makes people wonder how the future encryption market will distinguish true and false information.

Market manipulation in a regulatory vacuum: Regardless of whether the CAR token was actually launched by the president, its price surge and plunge once again confirms the speculative nature of the crypto market. In the absence of regulation, such incidents will become more frequent.

The dilemma of emerging markets: Economically backward countries such as