Author: Nancy, PANews

After the conclusion of the U.S. presidential election, Shayne Coplan, the founder of the Polymarket platform that accurately predicted the election results, was suddenly raided by the FBI. This move has been described as a "political retaliation," receiving support from Musk. Meanwhile, the investigation into Polymarket has sparked strong reactions within the crypto community, leading to significant funding for the related MEME coin Free Shayne Coplan (Eagle).

After the FBI Raid, Shayne Gains Support from Musk and Others, Eagle-Themed MEME Coin Goes Viral

The prediction market platform Polymarket played a crucial role in this year's U.S. election predictions, not only attracting substantial funding but also accurately forecasting the election results, which is considered superior to traditional polls.

However, according to Bloomberg, insiders revealed that Polymarket is under investigation by the U.S. Department of Justice for allegedly allowing U.S. users to place bets on the platform. The FBI issued a search warrant for Polymarket CEO Shayne Coplan, conducting searches at his residence in New York and seizing his phone and electronic devices.

It is reported that in 2022, Polymarket reached an enforcement agreement with the U.S. Commodity Futures Trading Commission (CFTC), agreeing to prevent U.S. traders from trading on the platform and paying a $1.4 million fine to settle.

Following the FBI raid, Shayne Coplan responded on Twitter after receiving a new phone, stating, "It is frustrating that the current government would make a last-ditch effort to pursue companies they believe are associated with political opponents. We remain steadfast in our commitment to maintaining a nonpartisan stance, and we still do today, but the current government should engage in some self-reflection and recognize that taking a more supportive stance towards businesses and startups may be key to changing election outcomes. Polymarket has provided value to tens of millions of people during this election cycle without causing harm to anyone. We are proud of that. I can proudly say that the future of America, especially for American entrepreneurs, has never looked brighter. In the face of adversity, we will continue to build."

Coplan's remarks received widespread support from the crypto community, questioning and criticizing the actions of U.S. regulators, while Musk's public backing further heightened the attention on the incident.

At the same time, the MEME coin "Free Shayne Coplan," born out of the Polymarket incident, has sparked a market frenzy. DEX Screener data shows that as of the time of writing, Free Shayne Coplan's market cap surged to nearly $47 million just hours after its launch, peaking at over 1840 times its initial value.

Notably, the icon of Free Shayne Coplan, the eagle, not only represents Shayne Coplan's likeness but also symbolizes the United States, in a sense representing supreme authority.

Musk Speaks Again on the Peanut Incident, MEME Coin Pnut's Market Cap Soars

The investigation into Polymarket bears a striking resemblance to the recent controversy surrounding the death of the internet-famous squirrel Peanut.

PANews previously reported that officials from the New York State Department of Environmental Conservation (DEC) arrested Peanut without a search warrant, leading to the squirrel being euthanized after biting an investigator. This incident garnered widespread attention and received multiple endorsements from Musk, quickly evolving into a political movement in the U.S.

In recent days, after Trump announced he would lead the U.S. government's efficiency department (referred to as DOGE), Musk again used the Peanut incident to mock the current state of the U.S. government.

On November 13, Musk responded to a user's question about the "necessity of the U.S. government's efficiency department," stating, "America is saved by a squirrel and MEME coins." He later commented on a post regarding the U.S. government's useless expenditures, again responding with a "Peanut" meme. On November 14, Musk responded to a user saying, "They senselessly killed Peanut," with "Yes."

Musk's comments have intensified this political drama, and as the situation escalates, the market sentiment around the MEME coin Pnut has surged, with its market cap skyrocketing by over $2 billion within just half a month of its launch.

Whether it is the investigation into Polymarket or the euthanasia of Peanut, both have evolved into a public protest against issues such as regulation, free will, and political motives. The hype surrounding MEME coins like Free Shayne Coplan and Pnut further demonstrates that the crypto market is increasingly becoming a tool for protest and reform in the U.S.

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