Mark Cuban pronounces Trump-inspired meme coin to pay down US debt

Billionaire entrepreneur Mark Cuban has introduced plans to launch a meme coin impressed by the $TRUMP token.

The undertaking comes with a novel twist: all income from the coin’s gross sales shall be despatched on to the US Treasury to assist scale back the nationwide debt.

The billionaire entrepreneur outlined his proposal on X, committing to a 20% float and a launch schedule matching the $TRUMP coin.

“If meme cash are the way in which, perhaps I’ll subject 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 goes to the U.S. Treasury,” Cuban wrote. “If you wish to gamble, gamble. However a minimum of use it to make a dent within the U.S. debt.”

In response to considerations from X person artchick.eth about potential investor losses and distribution challenges, Cuban acknowledged the speculative nature of meme cash.

Artchick.eth additionally famous that the majority profitable meme cash immediately are neighborhood takeovers, requiring time to construct robust distribution and natural development.

“We agree. It’s why Doge, Shiba Inu, and only some others have labored. It’s concerning the neighborhood long run,” he stated. “I’m not saying consumers received’t get rekt. I stated it was playing. It’s a sport of musical chairs.”

Cuban promised transparency within the undertaking, together with publishing the Treasury’s pockets deal with for public monitoring. “No guarantees. No pumps by me. Simply full transparency,” he acknowledged.

The initiative marks a shift in Cuban’s stance on meme cash, which he beforehand described as “an apparent hustle.”

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