Billionaire Mark Cuban, who owns the Dallas Mavericks, stated Friday that he’s contemplating issuing a meme coin, mirroring the construction of President Donald Trump’s current crypto challenge $TRUMP.
The meme challenge will use phrases just like the $TRUMP coin, which has a 20% float. At launch, solely 20% of the overall provide, or 1 billion tokens, was made accessible, whereas Trump, his household and associated firms retain the remainder.
This method controls provide to stabilize or enhance the coin’s worth. Moreover, the remaining 80% of tokens will unlock over three years, stopping a sudden sell-off and a possible value crash.
Mark Cuban’s Meme Coin to Ship Proceeds to US Treasury
Cuban stated that his meme challenge would observe the $TRUMP coin mannequin with a novel twist: all coin sale proceeds would go on to the US Treasury. He assured transparency, saying the pockets deal with could be shared so anybody may observe the funds. He added that whereas members may deal with it as of venture, they’d nonetheless assist cut back the US debt.
If meme cash are the way in which, possibly I’ll situation one. With a twist. Identical phrases as $TRUMP . 20% float. Identical launch schedule. One distinction.
All of the income from the sale of the cash go to the US Treasury. The pockets deal with will likely be revealed so everybody can observe it.
If…— Mark Cuban (@mcuban) January 20, 2025
Additional, Cuban said that launching the meme coin could be easy. He has actively supported meme cash previously, particularly Dogecoin, calling its group “the strongest” for utilizing it as a medium of alternate. He has additionally revealed proudly owning $494 value of DOGE. Moreover, his basketball workforce, the Dallas Mavericks, beforehand accepted Dogecoin for merchandise and tickets.
Trump’s Solana-Based mostly Token Drops 22% After Preliminary Surge
In the meantime, President Trump launched a meme token on the Solana blockchain over the weekend, producing billions in preliminary buying and selling quantity. Nevertheless, it dropped on Monday earlier than his inauguration however later noticed a slight restoration. The token was final down 22% on Tuesday, priced at $35.29, with a market cap of $7.05b.
Trump and related entities like CIC Digital LLC and Combat Combat Combat LLC management 80% of the coin’s provide. This raises issues about doable conflicts of curiosity, since Trump, as president, can form crypto laws. The coin leverages Trump’s picture and political narrative, interesting to his supporters and meme tradition fanatics. It cleverly blends political backing with crypto hypothesis.
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