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Crypto enthusiasts, informally known as “crypto degens,” pounced on a well publicised hearing in the United States involving former government personnel who asserted the presence of alien spacecraft and “biologics.”

David Grusch, a former member of the Pentagon’s task force on Unidentified Aerial Phenomena (UAP) and a whistleblower, made bold accusations during a hearing before the House Oversight Subcommittee on National Security, claiming that the US government had been concealing encounters with extraterrestrial beings on Earth.

The July 26 event soon went viral, resulting in the birth of more than 50 new tokens connected to aliens, UFOs, and other extraterrestrial topics in just 24 hours.

Despite Grusch’s intriguing claims, he admits that much of the information is still secret, leaving particular questions unresolved. He did, however, reveal that the US government owned “non-human” spacecraft, and there were reports of “non-human biologics” being found aboard these vehicles, as confirmed by Pentagon officials still working on the UAP programme.

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Ryan Graves, executive director of Americans for Safe Aerospace, and former Navy Commander David Fravor also testified at the session. Fravor rose to prominence in 2004 after filming a strange “tic tac” UAP off the West Coast of the United States. According to Fravor, these “tic tacs” displayed incredible characteristics, such as maintaining stationary in gale-force winds, leading him to assume that they outperformed our existing understanding of material physics.

Following the hearing, crypto degens swiftly generated a slew of new “shitcoins” with an extraterrestrial theme. DexTools, a website that allows traders to investigate numerous unverified and low market cap tokens, announced the launch of more than 50 such tokens, with tickers such as “ALIENX,” “UFO,” and “ALIEN.”

However, extreme caution is advised when interacting with these new memecoins, as many of them may be “honeypot” scams. These schemes use the enthusiasm generated by a particular topic to entice investors, but they frequently include devices that imprison FOMO-driven investors, preventing them from selling their tokens after purchasing.

Fortunately, despite their popularity on Twitter and Google searches, the majority of the new tokens have seen little to no trading activity. Nonetheless, according to CoinGecko data, several of the major alien-themed memecoins, such as the UFO Gaming Token (UFO) and the AlienFi token (ALIEN), have had minor growth of 2.4% and 5.9%, respectively, in the last 24 hours.