Trump’s memecoin is a ‘self-serving’ disaster risking legitimacy of crypto – Mark Cuban

Mark Cuban , the billionaire entrepreneur and vocal crypto commentator, has criticized the crypto community’s embrace of Donald Trump’s memecoin launch.

Cuban voiced his concerns on X (formerly Twitter), where he dismissed the idea that Trump’s memecoin debut is a positive milestone for the industry.

Instead, he argued that the digital asset reinforces a culture of speculation and neglects the fundamental need for regulatory compliance. According to him, such developments undermine the credibility of the crypto space and create additional hurdles for its broader legitimacy.

Many in the community have echoed this sentiment; however, others have welcomed the new memecoin.

Cuban noted that Trump’s memecoin does more harm than good, particularly in the eyes of regulators and policymakers. He emphasized that these speculative tokens provide no tangible value to investors, leaving the space vulnerable to scams and eroding trust among potential newcomers.

Cuban further highlighted how the lack of accountability in these ventures makes it harder for the industry to align with existing securities laws.

He said:

“This is the biggest bunch of self serving Bullshit I have ever heard. In your world, there is no ownership. Just speculation. Hello every scam targeted at everyone and anyone who has no clue about crypto. Good bye whatever hope the crypto industry had of legitimizing itself.”

Cuban also remarked that high-profile moves like this might validate criticisms from regulators, including former SEC Chair Gary Gensler .

He added:

“Gensler has got to be laughing his ass off…Rather than modifying the IPO process to accept crypto and give investors some understanding of what they are buying. Any registration requirements just flew out the window.”

Memecoin for US debt?

Amid his critique, Cuban proposed an unconventional idea of using a memecoin to address the US national debt.

He suggested creating a token modeled after Trump’s, with all proceeds directed toward reducing the country’s financial obligations.

Cuban stressed that transparency would be key, proposing that the wallet address be made public so anyone can track the funds.

The billionaire wrote :

“If meme coins are the way, maybe I’ll issue one. With a twist…to make a dent in the US Debt.”

He concluded that if people are willing to gamble on speculative tokens, they might as well contribute to solving real-world problems.

The proposal has generated feedback about directing such funds to a Bitcoin reserve. While Cuban acknowledged the idea, he pointed out the lack of an existing framework to implement it effectively.

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