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Planet Money

The Parable of Peanut the Memecoin

Planet Money

NPR

Business, News

4.6 β€’ 29.8K Ratings

πŸ—“οΈ 5 March 2025

⏱️ 36 minutes

🧾️ Download transcript

Summary

Memecoins are having a moment. Everyone from Hawk Tuah to President Donald Trump to animal influencers like Moo Deng the pygmy hippo have been turned into cryptocurrency. But what are the costs of all the hype?

On today's show β€” a modern parable. How an orphaned baby rodent became a world famous animal influencer, became a political martyr, and was finally transmuted into a billion dollar cryptocurrency. It's a tale about how a chance encounter can lead to fame and fortune. But also how all that can spin wildly out of control in this brave, new – kind of terrifying – attention economy we're all living in.

This episode was hosted by Alexi Horowitz-Ghazi and Nic Neves. This episode was produced by James Sneed. It was edited by Jess Jiang. Fact-checked by Sierra Juarez. And engineered by Jimmy Keeley. Alex Goldmark is Planet Money's executive producer.

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Transcript

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0:00.0

This message comes from CNN.

0:02.5

Terms of Service with Claire Duffy explores AI and other powerful new technologies.

0:07.8

Learn how to experiment with these tools without getting played by them.

0:11.2

Listen to CNN's Terms of Service with Claire Duffy.

0:15.5

Just a quick warning, this episode talks about sex and sex work.

0:20.4

It's an economic show after all.

0:23.2

This is Planet Money from NPR.

0:28.6

On the morning of October 30th, 2024, Mark Longo was doing what he does most mornings.

0:34.4

He was at his animal sanctuary on a farm in upstate New York, feeding these several

0:38.7

hundred horses and goats and pygmy donkeys he's rescued, many of which Pianna's wife have

0:43.6

saved from the slaughterhouse. So where were you when the raid began? So I was at the end of the

0:48.5

driveway in the beginning. That is when Mark saw something strange and menacing approaching the

0:53.9

property, a convoy of

0:55.4

SUVs with New York state government decals on the door. They're from an agency called the

1:00.5

DEC. What does DEC stand for? Department of Environmental Conservation. One of these

1:06.1

Department of Environmental Conservation officers gets out of the car and tells Mark they'd come to his farm

1:11.8

in order to take somebody into custody. And then he produced a search warrant. But the warrant wasn't

1:17.5

for Mark or his wife or any of the people on the farm. The warrant was for a squirrel named Peanut.

1:25.2

And I remember I got a call off to my wife to say, they're here, hide the animals.

1:29.6

And I tried to buy myself some time to maybe figure out what's going on here.

1:33.2

What was going on here was that Mark's pet squirrel, Peanut, had become one of the most famous squirrels in the world.

1:40.1

Thanks to social media, Peanut had reached the status of animal influencer, yet over a million

...

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