Mark Cuban Meme Coin Proposed to Reduce US National Debt

2 mins mins

Key Points:

Mark Cuban meme coin is being planned to use sales revenue to reduce the U.S. national debt.
Cuban criticizes the TRUMP token for harming cryptocurrency’s legitimacy and doubts its ability to build a lasting community.

Billionaire entrepreneur Mark Cuban has unveiled plans to launch his own meme coin, with proceeds from token sales going toward helping pay off the U.S. national debt.

Mark Cuban Meme Coin Unveiled to Tackle U.S. National Debt

The move comes as Cuban critiques the recently launched TRUMP token, a meme coin associated with former President Donald Trump, which he believes could harm the cryptocurrency industry’s legitimacy.

Cuban, an avowed Dogecoin supporter, was sceptical of what this token meant for crypto’s professional image. The billionaire, on X, said the Mark Cuban meme coin upcoming coin is like TRUMP as both projects will lock 80% of their token supply and make only 20% available to trade.

Cuban noted that while Dogecoin and other meme coins had huge support from the community, he did not think that TRUMP would maintain a lasting following due to the structure of the price and the lack of “cheap and fun” appeal needed to make Dogecoin popular.

Industry Calls for More Transparent Crypto Regulations Amid Growing Pressure

While Cuban is blasting the TRUMP token, he does sound very optimistic about one thing in the future: meme coins will drive some pretty serious resolution. Mark Cuban meme coin aims to capitalize on the trend of meme coin speculation, redirecting the funds towards tackling the national debt. Cuban will also make the coin’s treasury wallet address public so any user can trace the exact location where the funds flow.

On the other hand, Cuban added that the virtual cryptocurrency market faces some difficulties in winning public confidence, particularly after the TRUMP token release. He pointed to increasing pressure on U.S. lawmakers to clearly set up crypto regulations, mentioning the FIT21 Act, which would also help to establish the legal status of digital assets.

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