When Elon Musk’s tweets go live, the crypto world takes notice. That’s thanks in large part to his status as the DogeFather, the biggest promoter of everyone’s favorite meme coin, Dogecoin.
Musk has a certain way with younger investors. Not only did he promote the coin on his Twitter page for fun, he also announced that in the not-too-distant future, buyers of Tesla Motors vehicles will be able to pay for their cars with crypto. To add to it, Tesla now holds Bitcoin in its cash reserves.
Now Musk is going to be all over the crypto news world for a different reason. He’s currently arguing with the Senator of Massachusetts, Elizabeth Warren, about whether or not he should pay more in taxes. The two are duking it out in a very public fashion right on Twitter.
That’s part of the reason Senator Karen Coin is live on the blockchain. The project aims to challenge any public servant who thinks DeFi and NFTs are a danger to society. That’s apparently what Senator Warren believes.
She has been previously quoted as saying that “…DeFi is the most dangerous part of the crypto world.”
Clearly, Warren and Musk disagree on that. Fortunately for the crypto community, whether or not public servants or billionaires support DeFi and NFTs or not, the community itself can and will always have a voice.
Enter The Senator Karen Coin
In their back and forth on Twitter, Mr. Musk points out that he will pay more in taxes this year than any other American has ever paid in any tax year before. This after Senator Warren tweeted: “Let’s change the rigged tax code so the Person of the Year will actually pay taxes and stop freeloading off of everyone else.”
Musk clapped back with multiple responses, ending his series of replies with: “Please don’t call the manager on me, Senator Karen.”
There it is. The Senator Karen Coin’s origin story.
A Closer Look at Senator Karen Coin
In the first 15 hours since the coin’s launch, Senator Karen Coin achieved a whopping market capitalization of $900,000.
The Ethereum contract address for the project currently shows there are over 6.942 billion $KAREN tokens make up the project’s maximum supply. While the average crypto enthusiast might ape into the project to try and make a quick profit off of a Twitter argument going viral, the truth is that Senator Karen Coin has a bigger fundamental goal in mind.
Putting Politicians and Regulators on Blast
Senator Warren isn’t the first public figure to use the words dangerous and crypto in the same sentence. Many business and political leaders have used similar terms in the past to describe the world’s fastest-growing and most unique asset class.
The founders of Senator Karen Coin want to do something about that. They want to immortalize those that speak out against crypto, DeFi, and NFTs in trying to protect the old, archaic world of traditional finance which only benefits the old powers that be.
Their hope in raising the public profile and market capitalization of Senator Karen Coin is not just to capitalize on some sort of meme or viral trend It’s to immortalize those that are trying to stop or slow down the decentralization of wealth.
As cryptocurrencies mature as an asset class and the world of NFTs evolves, more and more NFT projects with a broader social goal are coming to the forefront of the industry. Projects like World of Women aim to support women’s rights through various non-profit initiatives and cool NFT art, for example.
Senator Karen Coin wants to support the true decentralization of wealth by challenging the status quo directly on the blockchain and making individuals who support the old way of doing things infamous in a way they probably don’t want and certainly never envisioned before.
The first NFTs begin minting this Friday, Dec 17th at 23:59 UTC, and it wouldn’t be surprising to see Senator Warren become the first person immortalized in the collection.
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