On February 9, a video announcing the launch of the state-backed meme token CAR appeared on the X account of Central African Republic (CAR) President Faustin-Archange Touadéra. The video’s authenticity was questioned, with at least two AI-based fake detectors labeling it as “suspicious.”

Today, we are launching $CAR – an experiment designed to show how something as simple as a meme can unite people, support national development, and put the Central African Republic on the world stage in a unique way.

Contract: 7oBYdEhV4GkXC19ZfgAvXpJWp2Rn9pm1Bx2cVNxFpump
— Faustin-Archange Touadéra (@FA_Touadera) February 9, 2025

AI Analysis and Market Reaction

The Ensemble model estimated a 60% probability of the video being fake, while Seferbekov’s analysis rated it at 82%. However, Deepware and Avatarify did not classify the post as a deepfake.

Doubts grew after the tweet’s publication when CAR’s market capitalization surged to $1.05 billion, according to GeckoTerminal.

The video described CAR as an “experiment” aimed at fostering national development and elevating the country’s global presence. The token’s official website (currently unavailable) outlined a total supply of 1 billion tokens.

Token Distribution and Liquidity Concerns

Data from DEX Screener revealed that the four largest holders control 33.31%, 24.99%, 9.81%, and 8.39% of the token’s total supply. Meanwhile, the 20% allocation meant for liquidity provision has yet to be added to the pool.

At the time of writing, the meme token had 31,870 holders, with liquidity standing at $2.2 million and a fully diluted valuation (FDV) of $134.01 million.

Potential Security Breach?

Speculation arose within the community that the token’s launch could be the result of a hack on Touadéra’s profile.

We are working with @X to get @CARMeme_News back as soon as possible.

Meanwhile, the token supply has been securely locked through @streamflow_fi, according to the distribution plan, emission groups, and release schedule detailed on our website.
— Faustin-Archange Touadéra (@FA_Touadera) February 9, 2025

The X account @Carmeme_news, dedicated to the token, has been suspended by the social media platform. However, according to a tweet from the president’s account, authorities are “working on its restoration.”

Background on CAR’s Crypto History

In April 2022, the Central African Republic recognized Bitcoin as legal tender alongside the CFA franc. However, the law was repealed a year later following backlash from other Central African nations.

That summer, the government launched the national digital currency Sango Coin.

In January 2023, President Touadéra announced plans to develop a regulatory framework for legalizing digital assets to accelerate the country’s economic growth.