Mark Cuban's Harsh Reaction to TRUMP Coin: He Can Launch His Own Meme Coin! - Coin Bulletin

Billionaire entrepreneur Mark Cuban heavily criticized President Donald Trump's launch of his own memecoin, Official Trump (TRUMP), and the reaction of the crypto community to this situation.

Cuban argued that such tokens usually do not provide value and that regulatory rules must be followed.

Trump's memecoin move has brought claims that it eliminates regulatory concerns for potential token issuers and paves the way for every company to issue its own token. However, Shark Tank program's famous figure Cuban said that this approach avoids real ownership and only increases speculation.

In his statement on the X platform, Cuban said, 'Hello to scams targeting people who don't understand anything about crypto. Goodbye to the hope of legitimizing the crypto sector.'

In addition, Cuban stated that if the new SEC chairman adopts such an approach, the current SEC laws would not be applicable. Cuban said, "Instead of changing the IPO process to accept crypto and giving investors an opportunity to understand what they are getting, the registration requirements were completely thrown out."

In his subsequent remarks, Cuban questioned whether the issuance of their own tokens by prestigious institutions such as Harvard would provide any value or benefit to the buyer.

You can create your own meme coin

Famous entrepreneur and billionaire Mark Cuban made a notable suggestion in a social media post, stating that he is considering creating a cryptocurrency to generate income for the US Treasury, inspired by the popularity of meme coins.

Cuban stated that the new cryptocurrency will have similar conditions to the popular TRUMP. He emphasized that it will maintain features such as releasing 20% of the supply and having a specific release schedule. The main difference, Cuban highlighted, will be in the use of income.

According to Cuban's proposal, all revenue from the sale of cryptocurrency will be transparently transferred to the U.S. Treasury. For this purpose, a wallet address, where all transactions can be tracked, will also be shared with the public.

Billionaire businessman urged his followers, 'If you're going to gamble, at least do it to reduce the US debt.'