Pudgy Penguins, the popular NFT project behind the PENGU token, has made a historic move by engaging directly with U.S. lawmakers and securing an advisory role on the White House’s cryptocurrency advisory committee. On April 24, the project held an open invitation event for policymakers at the Rayburn House Office Building in Washington D.C., signaling a new era of crypto policy engagement.
The project’s CEO, Luca Netz, emphasized the strategic importance of building government relationships, stating that crypto projects will eventually be divided into those that have built such connections and those that have not. Co-founder Lorenzo remarked that he never imagined representing the brand in Congress when the team acquired Pudgy Penguins about four years ago, noting that lawmakers showed empathy for real-world crypto use cases.
In addition to the congressional event, Pudgy Penguins now holds a seat on the White House’s cryptocurrency advisory committee, placing the project at the center of federal policy discussions on digital asset regulation, consumer protection, and innovation. The team also met with South Carolina Representative William Timmons and Republican Representatives Tim Moore and Michael Rulli to discuss the direction of cryptocurrency regulation.
However, a separate analysis by DNTV Research’s Bradley Park warns that the recent PENGU price rally may be artificial, designed to absorb a large volume of unlocked tokens. On April 17, 703 million PENGU (0.79% of supply) were unlocked and quickly moved to 19 separate addresses — a pattern Park interprets as preparation for staggered sales. He noted that positive news about PENGU triggered a short squeeze and a surge in futures open interest, creating an environment engineered by unlock recipients to offload holdings at high prices.
