GuShiio.com The simultaneous evolution of supervision and technology may be the ultimate answer to this game.
Written by Alex Liu, Foresight News
Event timeline and token prices: The birth of the skyrocketing myth
In the early morning of February 10, 2025, President of the Central African Republic Faustin-Archange Touadra posted a video through his official X account.Announced the launch of the state-backed Meme coin CAR and announced the contract address.The statement said CAR is an “experiment that promotes national development, unites people and enhances international influence.” The president also emphasized that as the second leader in the world to list Bitcoin as legal tender, he has long-term optimism about the potential of cryptocurrencies.
Photo source: GMGN
As soon as the news came out, the price of CAR tokens soared rapidly. GMGN data shows that the market value of the token once surged to US$700 million and is currently stable at around US$300 million. During this surge,A trader purchased 46.57 million CARs for 25 SOLs (about US$5,000) within one second of the president’s announcement of the contract address, and sold them partially within three hours. The total profit exceeded US$12 million and the return rate was as high as 2,450 times.
Photo source: GMGN
The Central African Republic and its President’s Crypto Background: From Bitcoin’s Legal Currency to the Meme Dispute
The Central African Republic has a population of about 5.5 million, a GDP of about 5.5 billion US dollars, and a per capita GDP of only about 1000 US dollars. As of 2017, the Central African Republic’s per capita GDP (calculated in purchasing power parity) ranked lowest in the world. In 2019, Central Africa’s human development index ranked second to last in the world, only higher than Niger. According to Wikipedia, research shows that Central Africa is the most unhealthy country in the world and the least suitable country for young people.
The Central African Republic will list Bitcoin as legal tender since 2022, becoming the second country in the world after El Salvador.President Touadra has always regarded himself as a supporter of cryptocurrencies, believing that it can promote “leapfrog development” in economically backward countries. However, the country has previously been criticized for problems such as weak infrastructure and poor policy implementation, and Bitcoin’s legal currency has failed to significantly improve its economic difficulties.
The launch of the CAR token was called a “new chapter in the national experiment,” but controversy ensued. After the video was released,Two AI Deep Forge Detection Tools (including Deepware) pointed out that there is an 82% probability that the video is synthesized.Moreover, the project domain name was registered through Namecheap only three days ago (access is currently blocked), which does not comply with government operating regulations.
In addition, the statement was released at midnight local time and was in English rather than the official language French, which further raised doubts.
Token economics and controversy: Centralization hidden dangers and liquidity risks
According to the CAR token white paper, its total supply is 1 billion coins, and the allocation plan is as follows:
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35% is used for national development;
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25% is allocated to creators and businesses;
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20.7% is used for liquidity pool (but on-chain data shows that it has not been injected yet);
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9.3% is publicly distributed.
However, the distribution of currency holdings on the chain exposes centralized risks: the largest wallet holds 33.31% of the tokens, the second largest wallet accounts for 25%,The top four addresses together control more than 70% of supply。Although the president claimed that tokens had been locked through Streamflow and distributed as planned, lack of liquidity and concentration of currency holding issues still caused market concerns.
Data source: GMGN
Derivative Thinking: The Challenges of Politicizing Encryption and Rebuilding Trust
The CAR incident is not only a carnival in the crypto market, but also reflects the complexity of the combination of cryptocurrency and political power. Jupiter co-founder meow tweeted after the incident escalated that the team had contacted the developer who deployed the CAR token and verified some of the information through online transactions. For example, the developer redeployed an originally revocable contract and destroyed 0.06924 SOL to prove it had the deployer address.
However, meow also admitted that although the chain part can be verified,However, the team was unable to confirm whether the CAR token actually received official support from the Office of the President of the Central African Republic, nor could it verify the accuracy of the token economics.This further highlights the crisis of trust behind the incident.
Crisis of trust and technological gameBecome the core issue. The popularity of deep counterfeiting technology has lowered the threshold for forging authoritative statements. The President’s X account video was marked by AI Detection Tools as “82% probability of synthetic.”This makes people wonder whether the “national endorsement” of the encrypted world can still be easily accepted.。In the future, the offensive and defensive battle between AI Detection Tools and hackers may become normalized, and how investors make judgments based on information that is difficult to distinguish between true and false will become a major challenge.
Secondly,Speculative carnival in a regulatory vacuumWorrisome. Cases such as Trump’s launch of TRUMP coins show that endorsements from politicians can be misused as a tool of market manipulation. The sharp rise and fall of CAR tokens once again proves that the unregulated crypto market can easily become a paradise for speculators, while ordinary investors often become the last ones to take orders.
Finally,Crypto experimental dilemmas in emerging marketsIt is also worth pondering. The Central African Republic is trying to break out of its economic woes through cryptocurrencies, but its weak infrastructure and governance capabilities may make this vision difficult to achieve. The failure of Bitcoin’s legal monetization has exposed similar problems, and whether the launch of CAR tokens will repeat the same mistakes still needs time to verify.
Jupiter founder called on investors to remain vigilant,Emphasizing that “the legitimacy of tokens requires secondary official confirmation”。(But CAR has been shown to be certified by Jupiter and appears on its token Strict List.)
conclusion
The dramatic rise of CAR tokens is not only a continuation of the myth of wealth creation in the crypto market, but also a microcosm of technology abuse and lack of trust. In a new era where political narratives and decentralization ideals are intertwined, investors need to examine the aura of “national endorsement” with a more rational eye, and the simultaneous evolution of supervision and technology may be the ultimate answer to this game.
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