FIFA President Proposes FIFA Coin at White House Crypto Summit

FIFA President Gianni Infantino proposed the idea of creating a FIFA Coin, a cryptocurrency for the global football community, at the White House Crypto Summit on March 7.

Following this announcement, a cryptocurrency named "FIFA Coin" (which has no official connection to FIFA) saw a massive surge in value, rising 142,000% and reaching a market cap of $3 million. However, the value quickly dropped, losing 92% of its value in just 24 hours.

FIFA has not yet commented on the situation, including whether they plan to take action against the creators of this unaffiliated coin.

This meeting between Infantino and President Trump was part of their ongoing discussions, marking their fourth meeting this year.

"FIFA is very interested in developing the FIFA Coin from America to reach the five billion soccer fans worldwide. If anyone wants to partner with us, we’ll conquer the world of soccer with the FIFA Coin," said Infantino.

US President Donald Trump commented, “That coin may be worth more than FIFA in the end.”