Mark Cuban to copy $TRUMP

Mark Cuban to copy $TRUMP


Good day everyone,

I hope you are all having a good day, welcome to CryptoGod-1's blog on all things crypto. In this post I will be looking at the news of Billionaire Mark Cuban considering releasing a memecoin similar to $TRUMP.

 

 

Mark Cuban to copy $TRUMP

Last Friday Billionaire Mark Cuban announced he could follow suit as new United States President Donald Trump and release he own memecoin. Cuban said proceeds from the meme coin would benefit the US Treasury and would follow the same model as the $TRUMP token. The token by the President has a 20% float, meaning 20% of the total supply, or 1 billion tokens, were made available, while Trump, his family and related companies retain the rest.

The twist with the idea from Mark Cuban is that coin sale proceeds would go directly to the US Treasury. With the $TRUMP token the remaining supply will unlock over a three year period, and Cuban would do the same to prevent a sudden sell-off and a potential price crash. He also announced that the wallet address would be shared so anyone could track the funds. Cuban stated that participants may view it as a gamble but that it could help to reduce the US debt.

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https://x.com/mcuban/status/1881445569727758392

 

Cuban also noted that the launch of a memecoin would be simple. In the past Cuban has supported memecoin, especially Dogecoin, and has called it the strongest community. He also revealed he owns $494 million worth of DOGE. He and his basketball team, the Dallas Mavericks, have previously accepted Dogecoin for merchandise and tickets.

While the idea seems good on paper, the $TRUMP token has proven the unreliability of the memecoin space. The token generated billions in trading volume and saw substantial growth but has since dropped from a high of $73.43 to $39.63 at the the time of writing.

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Much has been made of this move by Trump and his family, as Melania also released a token. In the period of 48 hours, the Trump family’s net worth surged by billions of dollars, based on holdings of its just-launched digital assets. This shows many just how the crypto market can be manipulated by those with fame and fortune to profit for themselves. 

Cuban had even called out the legitimacy of such moves in the market and how it can damage the crypto industry long-term. He has called the crypto industry lawless and was a strong supporter of Harris during the election campaign. With Trump yet to make any big announcements regarding changes to the crypto industry, it remains to be seen whether or not the new President is indeed interested in reform, or just inflating his own family wealth.

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https://x.com/mcuban/status/1881343104441098260

 

 

If Cuban does release a token, would you jump on the bandwagon and purchase $CUBAN in the hopes for riches?

Have a great day.

Peace. CryptoGod-1.

 

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cryptogod-1
cryptogod-1

Writer, designer, creator, and life enthusiast. I love to read and write and enjoy sharing my passion for crypto, sports, literature and everything and anything I can enjoy in life.


CryptoGod-1 : Crypto & Blockchain
CryptoGod-1 : Crypto & Blockchain

Enthusiast here looking to share my ideas, thoughts, analysis, and experience when it comes to all things crypto

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