The Fartcoin Phenomenon 💨
Happy Thursday, Dispatchers! Welcome to this week's edition of News Rollups.
Global markets felt tremors for the past two weeks with US President Donald Trump's tariff announcements. Bitcoin slumped, recovered a bit and is now stuck in a range. Altcoins are living through a forgettable nightmare.
One unlikely asset defied gravity, though. And it’s a memecoin.
Fartcoin rallied more than 2x in a month. No, you are not dreaming. A flatulence-themed token is leading the crypto recovery.
In today's News Rollups edition, we tackle:
Why are traders betting on Fartcoin while other memecoins struggle?
Why Pakistan suddenly tapped former crypto exile CZ as advisor
How tariffs might fund America's Bitcoin reserve
How a DeFi CEO plans to burn $236 million of his team's tokens
Got questions about a hot crypto topic that you want help understanding? Ask your question using the form and our crypto experts may answer it along with your name in our weekly News Rollups.
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Q: Why are traders betting on Fartcoin while other memecoins struggle?
Fartcoin rose about 220% over the past month and nearly 100% in a little over a week. While Bitcoin remained flat, FART blasted past other memecoins, including TRUMP (down ~30%), DOGE, PEPE, and WIF.
It’s not some random whales swinging the price for Fartcoin.
Heavy trading volume is driving the rise - more than $300 million in the last 24 hours. That’s exceeding the combined volume of Bonk's $92 million and even Shiba Inu's $146 million, both of which boast of higher market caps than Fartcoin.
There’s no solid fundamentals though driving this activity in Fartcoin.
“Fartcoin’s absurd outperformance is the perfect metaphor for this market. A joke wrapped in volatility, where escalating US-China tariffs make 'rational' trading a fantasy," said Kirill Kretov.
For those invested in the Solana and memecoin ecosystem, it also makes sense to move their funds into a memecoin themed around flatulence that’s giving more than 2x returns in a week, than letting the value erode by holding the funds in Solana.
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Q: Why is Pakistan suddenly talking crypto with CZ?
The South-east Asian country last week appointed former Binance CEO Changpeng "CZ" Zhao as advisor to its newly formed Crypto Council.
The move aligns with Pakistan positioning itself to become a crypto hub, with plans to use its surplus electricity to power Bitcoin mining and AI data centres. Council CEO Bilal Bin Saqib made it clear: "Pakistan is done sitting on the sidelines."
Why CZ? His global connections and exchange-building expertise could help Pakistan attract international investment. The collaboration also aligns with US President Donald Trump's pro-crypto stance, as Saqib noted: "Every country will have to follow suit or risk getting left behind."
Q: US wants to fund its Bitcoin reserve with tariffs. Can it?
The numbers suggest it's feasible. Current tariffs are projected to generate between $220-460 billion annually, while acquiring 800,000 Bitcoin (to reach the proposed 1 million BTC goal) would cost about $66 billion at current prices.
Bo Hines, a crypto advisor to Trump, said in a recent interview with Professional Capital Management CEO Anthony Pompliano, that the US is exploring “…many creative ways, whether it be from tariffs,…” to fund its BTC reserve without using taxpayers’ money.
Another proposal: revaluing Treasury gold certificates (more on this later) from $43 per ounce to the current $3,200 market price, creating a paper surplus to fund Bitcoin purchases without selling gold.
The administration needs "budget-neutral" strategies that impose "no incremental costs on American taxpayers," making tariff revenue an attractive option.
What’s the catch, then? Economic concerns loom large. Tariffs are predicted to reduce GDP growth by 0.6% in 2025, with JPMorgan warning of potential recession. The 90-day tariff pause announced April 9 also complicates immediate funding plans.
The Crypto Comic 🎭
Mantra CEO John Mullin pledged to burn his entire team's token allocation – worth $236 million – following OM token's catastrophic 92% crash on April 13. Why? To win back community trust.
Watch: Mantra Co-Founder Explains $5 Bn OM Token Collapse
Dispatch Decoder: What are Treasury Gold Certificates? 👨🏽🏫
Remember how Trump’s crypto adviser Hines was suggesting the Treasury gold certificates revaluation route to fund the Bitcoin reserve? Well, these certificates are claims the Federal Reserve holds on the US Treasury’s gold. These claims are valued at an outdated $43 per ounce from the 1970s, not the current $3,200 market price.
Revaluing them to today’s price creates a “paper surplus” on the Treasury’s balance sheet without selling gold. This surplus could fund a Bitcoin reserve without new taxes or debt, as it’s budget-neutral. Economically, this boosts the Treasury’s assets on paper but risks inflation or market distortions if perceived as money printing. It’s a creative way to fund Bitcoin without physical gold sales.
Under the Radar 🔎
Panama City became the newest addition to the list of growing cities that accept crypto for municipal payments. Mayor Mayer Mizrachi on Wednesday announced that the city will accept Bitcoin, alongside other cryptocurrencies including stablecoins, for taxes, permits and fines.
Unlike previous attempts requiring new legislation, they partnered with a bank to instantly convert crypto to USD, making implementation immediate. Panama joins a growing list of crypto-friendly municipalities worldwide.
That’s it for this week’s News Rollups.
Until next Thursday, stay curious.
PS: Got some questions about the world of crypto from this week? Fill this form here and get a chance to have your question featured and answered by our experts in the next edition.
Disclaimer: This newsletter contains analysis and opinions, not financial advice. Trading crypto involves substantial risk - your capital is at risk. Do your own research.
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Disclaimer: This newsletter contains analysis and opinions, not financial advice. Trading crypto involves substantial risk - your capital is at risk. Do your own research.