Coins tied to Luigi Mangione have shot over 300% in under 2 hours following his recent court proceedings. According to reports, US prosecutors will seek the death penalty for Luigi Mangione, the man accused of killing UnitedHealthcare CEO Brian Thompson.

Attorney General Pam Bondi on Tuesday said she had ordered federal prosecutors to pursue the death penalty in the case against Luigi Mangione.

“After careful consideration, I have directed federal prosecutors to seek the death penalty in this case as we carry out President Trump’s agenda to stop violent crime and Make America Safe Again,” the attorney general said.

UnitedHealthcare CEO Brian Thompson. was shot dead outside a hotel in New York on 4 December. Police arrested Mangione, 26, weeks later in Pennsylvania after a nationwide manhunt.

The financial burden unburdened by death – Or not?

At the outset, NYPD Chief of Detectives Joseph Kenny and Rebecca Weiner, the deputy commissioner for intelligence and counterterrorism, discussed Mangione’s arrest. They said investigators found many things that would play into the case, including a fake ID and a device called a Faraday Bag that helped prevent police from tracing him.

TMZ’s Harvey Levin speculated that Mangione’s alleged shooting stems from his frustration over “corporate greed.”

“Everyone thinks this assassination was about health insurance,” Levin said, “that Luigi had a particular grievance about health insurance. It’s not true. Luigi’s gripe was over corporate greed. Health insurance was a symbol of it.”

However, The DOJ asserts that Thompson’s “murder was an act of political violence.”

Mangione faced multiple counts of murder, including murder as an act of terrorism under federal and state charges in New York and Pennsylvania. He has now pleaded not guilty and is awaiting trial in a New York federal prison.

Mangione, 26, faces separate federal and state murder charges for the killing, which rattled the business community while also galvanizing health insurance critics. 

Prosecutors have said the two cases will proceed on parallel tracks, with the state charges expected to go to trial first. It wasn’t immediately clear if Bondi’s death penalty announcement will change the order of how the cases are tried.

Crypto investors benefit from Luigi’s ordeal

To some, Luigi Mangione remains a hero who squared injustice for many Americans. During his arrest, Luigi Inu, a memecoin inspired by Luigi Mangione, hit a new all-time high by market cap, reaching $60 million.

At present, the coin’s sentiment has turned bullish on CoinMarketCap. In addition, the coin is up 211% in the last 24 hours. 

The connection between Mangione and these memecoins lies in the fact that his arrest and the subsequent media attention have significantly boosted the token’s popularity and value. Now, traders await to see how his death penalty will play out. In the meantime, many are making a killing from the proceedings.

In addition, Luigi Mangione’s coin LUIGI is up 180% in the last 24 hours with a 98% bullish sentiment on CoinMarketCap.

President Donald Trump, who oversaw an unprecedented run of executions at the end of his first term, signed an executive order on his first day back in office on Jan. 20 that compels the Justice Department to seek the death penalty in federal cases where applicable. His predecessor, Joe Biden, had issued a moratorium on federal executions.

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