rewrite this title Why ‘Tiger King’ Joe Exotic Launched a Solana Meme Coin From Behind Bars – Decrypt

Why did Joseph Maldonado-Passage, better known as Joe Exotic from the viral Netflix docuseries “Tiger King,” debut a meme coin on Solana from prison earlier this week?

“I’m knee-deep in lawyer bills,” he told Decrypt in an interview, claiming the endeavor will also benefit children through donations to a nonprofit called Operation Smile.

The 62-year-old, who has lived behind bars for seven years, didn’t launch the meme coin himself. Instead, he said his lawyers helped him get “Official Tiger King” off the ground, which began trading under the ticker name EXOTIC on Monday.

Most celebrity meme coins end up as flash in the pan. Their value often hinges on people’s attention, which can fade quickly. Others end up marred by allegations of insider trading. Exotic said he’s hopeful that his token doesn’t end up becoming yet another example.

“I pray to god that they don’t rug it and ruin my reputation,” the former wildlife park owner said. “I’m hoping that people will see this is legit and it has a purpose.”

Celebrity meme coins, while nothing new, reached a boiling point last year, with names like Caitlyn Jenner, Jason Derulo, and Cardi B stepping into the space. Hailey Welch, also known as “Hawk Tuah girl,” was among those that got caught flat-footed. Her coin, dubbed HAWK, became a fiasco after it imploded. A spokesperson told Decrypt she “had zero control over it.”

EXOTIC debuted on a little-known launchpad called pumpkin.fun. The meme coin’s market cap initially surged to $900,000 but has since fallen to just over $100,000, according to the crypto data provider GeckoTerminal. It has less than 900 holders in total, per blockchain data.

The website for Exotic’s meme coin does not reference the project’s goal of contributing funds to Operation Smile. However, it does say tokens will be donated to a “foundation supporting tigers or animal health” upon his release from prison. On Friday, Exotic’s account on X, formerly known as Twitter, said it had already donated $1,000 to the nonprofit.

Exotic says his lawyers got behind the idea of launching a meme coin as a way to showcase his commitment to charitable work. That’s a reason for him to be free, he said, as opposed to “sitting in here, watching people do drugs all day.”

Project Smiles and Exotic’s lawyers did not respond to requests for comment from Decrypt.

Exotic is currently being held at FMC Fort Worth, an administrative security center, according to the U.S. Federal Bureau of Prisons He routinely uses the telephone to connect with the outside world, keeping fans up-to-date via podcasts and X Spaces.

When it comes to crypto, Exotic has been able to absorb a lot, even learning from other inmates. While familiar with key terms, his real-word experience is admittedly limited.

“There’s not a lot to do all day besides sit and talk to people who know shit,” he said. “I do a lot from here, but I don’t even know how to set up a wallet.”

In 2021, Joe Exotic was resentenced to 21 years in federal prison, per the Associated Press. He was convicted of a murder-for-hire scheme against animal welfare activist Carole Baskin, killing five tigers, selling tiger cubs, and falsifying wildlife records.

Exotic maintains his innocence, while also pressing U.S. President Donald Trump for a pardon on social media.

In 2021, an unofficial meme coin called “Tiger King Coin” was launched as well. Exotic said he was entitled to receive 1% of its supply, but never found out who was behind the project. He fears that coin may influence people’s perceptions of the one that just launched. 

Operation Smile, founded in 1982, provides cleft lip and palate repair surgeries for children across the world. Exotic hopes his meme coin can ultimately help that initiative moving forward.

“People really need to invest in it,” he said. “I would like to be able to get it up there to where I can fix 500 kids’ [faces] and pay my lawyer bills.”

Edited by Andrew Hayward