- Errol Musk goals to lift as much as $200 million with the Solana-based memecoin “Musk It.”
- The token surged over 400% after Errol publicly endorsed it, although Elon Musk isn’t concerned.
- Proceeds will fund the Musk Institute, a assume tank targeted on tasks like flying autos.
Comfortable Friday! The primary month of 2025 is wrapping up, and wow—what a wild week it’s been within the crypto house. So, seize your espresso (or one thing stronger) and compensate for the newest chaos.
Right here’s the rundown: Elon Musk’s dad is chasing $200 million with a memecoin, a UK crypto gang’s behind bars for 76 years mixed, Function Investments is submitting for an XRP ETF, and MicroStrategy simply raised half a billion {dollars} to purchase extra Bitcoin. Let’s dive in.
Elon Musk’s Dad Eyes $200 Million with ‘Musk It’ Memecoin
Errol Musk—sure, Elon’s father—is moving into the memecoin craze following President Donald and Melania Trump’s current token launches. Together with tech guide Nathan Browne, Errol is aiming to lift between $150 million and $200 million from Musk It, a Solana-based memecoin that launched quietly final month. The undertaking, backed by a Center Jap crypto firm, didn’t get a lot consideration till now.
Since Errol publicly endorsed the coin on Thursday, its worth has skyrocketed over 400% inside 24 hours. Nonetheless, Errol was fast to make clear that whereas he’s mentioned the undertaking with Elon, his son isn’t concerned. Regardless of this, the undertaking’s web site leans closely on Elon’s imagery—SpaceX rockets, a Cybertruck, and guarantees of a Mars base “coming quickly.”
The Musk Institute and Memecoin Thriller
Errol Musk says the funds will assist set up the Musk Institute, a for-profit assume tank targeted on his sci-fi desires—flying autos included. Nonetheless, neither he nor Browne created the coin. They solely agreed to collaborate after the institute thought took form late final 12 months. Particulars on the token’s construction are sparse. The one recognized information? A 1 billion token provide and a circulating cap. Even Errol appeared not sure in regards to the finer factors.
In the meantime, Browne careworn one factor: “This can’t be a pump and dump.” Skeptics could beg to vary.
With this whirlwind memecoin drama unfolding, one factor is evident—crypto by no means sleeps.