From the FBI raid on Polymarket's founder to Peanut's death, PolitiFi-related MEME coins are being heavily hyped
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From the FBI raid on Polymarket's founder to Peanut's death, PolitiFi-related MEME coins are being heavily hyped
After FBI raid, Shayne gains support from Musk and others as eagle-themed meme coin surges.
Navigating Web3 tides with focused insightsBy Nancy, PANews
After the U.S. presidential election concluded, Shayne Coplan, founder of prediction market platform Polymarket—which accurately predicted the election outcome—was suddenly raided by the U.S. Federal Bureau of Investigation (FBI). The incident has been labeled as "political retaliation," drawing strong support from Elon Musk. Meanwhile, the investigation into Polymarket has sparked significant backlash within the crypto community, fueling massive interest in the related MEME coin Free Shayne Coplan (the eagle).
Shayne Gains Support from Musk and Others After FBI Raid; Eagle-Themed MEME Coin Rises
The prediction market platform Polymarket played a pivotal role in forecasting this year's U.S. election, attracting substantial investment and outperforming traditional opinion polls with its accurate predictions.
However, according to Bloomberg, sources revealed that Polymarket is under investigation by the U.S. Department of Justice for allegedly allowing American users to place bets on its platform. The FBI obtained a search warrant targeting Polymarket CEO Shayne Coplan, raiding his residence in New York and seizing phones and electronic devices.
In 2022, Polymarket reached a settlement with the U.S. Commodity Futures Trading Commission (CFTC), agreeing to block U.S. traders from using the platform and paying a $1.4 million fine.
After obtaining a new phone, Coplan took to X (formerly Twitter) to respond: “It’s deeply disheartening that the outgoing administration would make a last-ditch effort to go after companies they perceive as aligned with political opponents. We remain steadfastly committed to being non-partisan—today more than ever. But perhaps the current administration should reflect inward and realize that embracing a pro-business, pro-startup stance might have actually changed the election outcome. Polymarket provided value to tens of millions during this election cycle, without harming anyone. We are incredibly proud of that. I can confidently say the future of America, especially the future of American entrepreneurs, has never looked brighter. We will keep building through adversity.”
Coplan’s statement received widespread backing from the crypto community, raising questions and criticism toward U.S. regulators. Elon Musk’s public endorsement further amplified attention on the case.
Meanwhile, the MEME coin “Free Shayne Coplan” emerged around the incident, sparking a market frenzy. According to DEX Screener data, at the time of writing, Free Shayne Coplan surged to a market cap of nearly $47 million just hours after launch, peaking with a gain of over 1,840x.
Notably, the eagle icon of Free Shayne Coplan not only comes from Shayne Coplan’s personal avatar but also symbolizes the United States itself—representing supreme authority in a certain sense.
Musk Revives Peanut Case, Pnut MEME Coin Soars
The Polymarket investigation bears striking similarities to the recent controversy surrounding the death of viral sensation squirrel Peanut.
PANews previously reported that officials from New York State Department of Environmental Conservation (DEC) apprehended Peanut without a warrant. The squirrel was euthanized after biting an investigator, sparking widespread outrage and multiple endorsements from Elon Musk, quickly escalating it into a political movement.
In recent days, following Trump’s announcement appointing Musk to lead the newly formed Department of Government Efficiency (DOGE), Musk has again used the Peanut case to criticize the state of the U.S. government.
On November 13, Musk responded to online skepticism about the necessity of the Department of Government Efficiency with: “America was saved by a squirrel and a MEME coin.” He later replied to a post criticizing wasteful government spending using a “peanut” meme. On November 14, when a user commented, “They killed Peanut meaninglessly,” Musk simply replied: “Yes.”
Musk’s comments intensified the political drama. As the situation unfolded, speculative sentiment around the MEME coin Pnut soared, pushing its market cap above $2 billion within just half a month of launch.
Both the Polymarket investigation and the Peanut euthanasia have evolved into broader public protests against regulation, individual liberty, and perceived political motivations. The surge in politically charged MEME coins like Free Shayne Coplan and Pnut further demonstrates how the crypto market is increasingly becoming a tool for protest and reform in America.
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