Washington experienced an unusual crypto performance on Wednesday. A group of memecoin enthusiasts linked to the Pump.fun platform unveiled a 12-foot (3.6-meter) tall golden statue of US President Donald Trump holding Bitcoin. The installation was placed opposite Union Square on the National Mall. Just a short walk from the Capitol and about a kilometer from the White House.
According to the event’s website, it is intended as “a tribute to Trump’s unwavering commitment to advancing the future of finance through Bitcoin and decentralized technologies.” The unveiling of the statue took place on the same day that the US Federal Reserve (Fed) cut interest rates by a quarter of a percentage point for the first time this year. Such a move is usually seen as a positive stimulus for risky assets. Including cryptocurrencies, as it reduces borrowing costs and often encourages capital inflows into speculative markets.
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“Thanks to the president” for adopting crypto
Event organizer Hichem Zaghdoudi said in an interview with local television stations ABC 7News DC and DC News Now that the statue aims to “spark debate about the future of government currencies”. Symbolizes the connection between politics and financial innovation. “Without the president, we would never have seen the mass adoption of Bitcoin and the interest of large institutions in cryptocurrencies. This is our thank you to the president,” he added.
During his second term as president, Trump became a vocal advocate of cryptocurrencies. Which led to massive financial support for his campaign from the crypto industry. According to US media, he and his family have also significantly increased their own investments in digital assets in recent years.
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Foam statue, memecoin, and livestreams
According to the organizers, the statue is made of extremely hard foam to make it lightweight and easy to handle. They shared footage of the production on social media, including a machine carving Trump’s head and the installation itself. The event also includes a memecoin created on the Pump.fun platform, which they promoted with a series of livestreams.
National Mall: a place of statues, protests, and happenings
The golden Trump with Bitcoin is already the third statue related to Trump to appear on the National Mall this year. In June, an eight-foot-tall statue called “Dictator Approved” appeared in the same place. Depicting a golden hand crushing the crown of the Statue of Liberty and protesting against a military parade held shortly before. Later, a golden television set appeared on the lawn with a video of Trump dancing with convicted sex predator Jeffrey Epstein. The current installation is the first to celebrate the former president without irony.
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