As well as using Fartcoin to gamble online at crypto casinos, owners could use the memecoin to apply for a mortgage under new directives by the Federal Housing Finance Agency (FHFA).
US Director of the FHFA, William J. Pulte announced in a post on X that, “After significant studying, and in keeping with President Trump’s vision to make the United States the crypto capital of the world, today I ordered the Great Fannie Mae and Freddie Mac to prepare their businesses to count cryptocurrency as an asset for a mortgage.”
The directive states that the Federal National Mortgage Association (Fannie Mac), and the Federal Home Loan Mortgage Corporation (Freddie Mac) should “consider only cryptocurrency assets that can be evidenced and stored on a U.S.-regulated centralized exchange”.
Together, Fannie and Freddie Mac support 70% of all mortgages issued in the US.
Fartcoin A Valuable Liquid Asset
Protos noted that this would include Fartcoin, which can be traded on Coinbase, Kraken, and now Binance as of this month. One Reddit user declared, “Paying my mortgage with FARTCOIN soon guys…”. Another user on X described telling your mortgage agent about your “extremely liquid” seven-figure Fartcoin holdings that are “backed by pure gas.”
Fartcoin (FARTCOIN) is a meme-inspired cryptocurrency launched in 2024 on Solana, with “gas fee” sounds on transfers. It has become one of the most highly traded memecoins, overtaking Pepe and Dogecoin on Coinbase. It currently trades at just under $1, with some analysts predicting it will rise to a high of $1.6 in July.
The coin reached a peak of $2.63 earlier this year, and supporters have coined the term “hot air rises” to emphasize the potential of future price increases. Fartcoin casinos are already available for online gambling, as users look to speed up the growth of their assets.
Crypto Enthusiasts Welcome News
The FHFA announcement was met with some derision by social media users, but also taken seriously by crypto enthusiasts as it means holders of more established cryptocurrencies, such as Bitcoin, would not have to liquidate their holdings to apply for mortgages.
Michael Saylor, CEO of Strategy (a major Bitcoin investor), praised the FHFA move as “a defining moment for institutional BTC adoption.”
Danielle Hale, Chief Economist at Realtor.com, also saw the move as a pivotal moment for cryptocurrencies, stating, “If Fannie and Freddie are going to accept cryptocurrency as collateral, that’s a strong incentive for banks to shift their practices.”
While major coins are accepted at crypto betting sites, mainstream gambling sites are yet to adopt cryptocurrencies as a form of payment. But, if the US is to realize Trump’s vision of becoming the “crypto capital of the world,” then it may not be long before major sportsbooks follow the FHFA in validating the value of the digital currencies.
Adam is an experienced writer with years of experience in the gambling industry. He has worked as a content writer and editor for five years on sites such as Oddschecker, CoinTelegraph and Gambling Industry News, bringing excellent knowledge of the world of sports betting and online gambling. Adam focuses on emerging stories in the ever changing landscape of betting in the US. Read the latest on prediction markets, changing legislation, and sweepstakes.
