SPX6900 (SPX) Describes Itself As

SPX6900 is a memecoin designed as a satirical commentary on traditional finance. The project aspires to outpace the market capitalization of the S&P 500, a goal framed more as a comedic aspiration than a practical objective.

Project Function

SPX6900 functions primarily as a memecoin with no inherent utility or tangible value. Its main purpose is to foster community engagement and entertainment, leveraging humor and internet culture to maintain its relevance. The project has cultivated a dedicated following and has inspired a variety of memes, contributing to its visibility within the crypto space.

Token Utility

The SPX token offers no conventional utility features such as staking, governance, or real-world applications. Its value is largely influenced by community interest, speculative trading, and its memetic appeal.

The token is accessible across multiple blockchains, including Ethereum, Solana, and Base, and it can be traded on various decentralized exchanges. 

About the Founders

The creators of SPX6900 remain anonymous, a characteristic common among memecoin projects.

Risks of SPX

Like an investment in other crypto assets, there are some general risks to investing in SPX. These include:  (i) volatility risk and liquidity risk, (ii) short history risk, (iii) demand risk, (iv) forking risk, (v) code defects, (vi) regulatory risk, (vii) electronic trading risk, and (viii) cyber security risk. For additional information of these and other general risks associated with crypto assets and Uphold’s platform, please refer to the Risks Specific to Holding Digital Assets statement.

In addition to these general risks, an investment in SPX is subject to the following specific risks:

• As a ‘memecoin’, SPX is a community project, led by a pseudonymous team. 
• Any potential success associated with SPX is reliant on the growth of its decentralized community, and their continued trading and enthusiasm for the asset. These factors are difficult to predict, and could result in very high volatility.

We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with SPX. Investors should conduct their own research and perform their own assessment before trading any crypto asset to determine the appropriate level of risk for their personal circumstances.

The SPX community and SPX6900 founding team are not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of SPX have no recourse to the SPX community, SPX6900 founding team, or Uphold if SPX declines in value for any reason.

Changes to applicable law may adversely affect the use, transfer, exchange, or value of any of your crypto assets, and such changes may be sudden and without notice.

Uphold’s Evaluation Process

Prior to listing SPX on the Uphold Platform, Uphold performed due diligence on SPX and determined that SPX is unlikely to be a security or derivative under relevant securities legislation. Uphold’s analysis including reviewing publicly available information on the following: 

• The creation, governance, usage, and design of SPX, including ensuring the source code is open-source, audited and peer reviewed, security, and roadmap for growth in the developer community. 
• The supply, demand, maturity, utility, and liquidity of SPX.
• Any marketing materials put forward by the SPX social team including on, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.
• Material technical risks associated with SPX, including any code defects, security breaches and other threats concerning SPX and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them.
• Legal and regulatory risks associated with SPX, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of SPX.

General

Uphold has prepared this Crypto Asset Statement based on publicly available information. Although Uphold has taken steps to obtain information from apparently reliable sources, information contained in this Crypto Asset Statement may be inaccurate, incomplete or out-of-date. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.

Uphold users should read the Risks Specific To Holding Digital Assets statement for additional discussion of general risks associated with crypto assets made available through the Uphold platform.

Last updated on February 4, 2025.