A cryptocurrency using the name of Japanese Prime Minister Sanae Takaichi briefly surged to a market value of about $27.7 million before sliding sharply after Takaichi publicly denied any connection to the token.
In a statement posted on X, Takaichi said she had no knowledge of the “Sanae Token,” adding that neither she nor her office had granted any approval related to it. She said the clarification was issued to prevent public misunderstanding.
“Due to the name, it seems there are various misunderstandings, but regarding this token, I have absolutely no knowledge of it, nor has my office been informed about what this token entails,” she wrote.
According to crypto data tracker Gmgn, the Solana-based crypto token briefly reached a market capitalization of $27.7 million on Feb. 25. Following Takaichi’s denial, its price and market cap declined sharply. At the time of writing, the token’s market capitalization stood at about $7 million.
FSA considers investigating the token
Japan’s Financial Services Agency (FSA) is reportedly considering investigating parties involved in the token’s issuance.
According to Kyodo News on Tuesday, the regulator is weighing a probe into related operators to confirm the relevant facts. The FSA has not publicly announced a formal investigation.
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The report said the company involved may lack the registration required to issue crypto assets in Japan.
Under Japan’s Payment Services Act, crypto asset exchange service providers must register with the FSA. Operating without proper registration can draw regulatory scrutiny, particularly where consumer protection concerns arise.
Political-name tokens draw scrutiny globally
Tokens referencing public figures have surfaced in multiple jurisdictions during recent speculative market cycles.
In the US, tokens referencing President Donald Trump have periodically gained traction before the president announced an official token.
On Jan. 17, 2025, Trump’s team announced the launch of an official Trump memecoin. The token briefly rose to about $73 before declining sharply. At the time of writing, it trades around $3.40, roughly 95% below its peak.
In Argentina, the Solana-based Libra token sparked an international scandal in February 2025 after President Javier Milei promoted it on X shortly after launch.
On Feb. 18, 2025, the token surged above $4.50 within minutes before crashing below $0.20 within hours, prompting allegations of a pump-and-dump scheme.
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