Greenlight Capital's David Einhorn called the current bull market cycle the "Fartcoin stage," highlighting the memecoin. Fartcoin reached a nearly $2 billion valuation after the election of President Trump, surpassing many U.S.-listed firms. Former President Donald Trump launched a meme coin with a market cap surpassing $14 billion despite recent price swings. Melania Trump also introduced a coin, signaling the market's rapid expansion into meme tokens. Einhorn's letter noted Greenlight's short positions against crypto-linked ETFs while capitalizing on MicroStrategy stock arbitrage for significant gains.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Greenlight Capital's David Einhorn called the current bull market cycle the
00:06Fartcoin stage, highlighting the meme coin.
00:09Fartcoin reached a nearly $2 billion valuation after the election of President Trump,
00:14surpassing many U.S. listed firms.
00:16President Donald Trump launched a meme coin with a market cap surpassing $14 billion,
00:21despite recent price swings.
00:23Melania Trump also introduced a coin, signaling the market's rapid expansion into meme tokens.
00:29Einhorn's letter noting Greenlight's short positions against crypto-linked EFTs
00:35while capitalizing on micro-strategy stock, albeit for significant gains.