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Billionaire investor and Shark Tank star Mark Cuban has floated the concept of tackling ballooning US debt via the launch of his personal meme coin, an concept impressed by the launch of Donald Trump’s Official Trump ($TRUMP) coin.
“If meme cash are the way in which, perhaps I’ll subject one,” Cuban mentioned in a Jan. 20 X put up. “One distinction. All of the income from the sale of the cash go to the US Treasury.”
Mark Cuban Meme Coin Will Come With Identical Phrases As The Just lately-Launched TRUMP Token
Cuban mentioned that the proposed meme coin will include the identical phrases because the recently-launched Official Trump (TRUMP) meme coin. His new meme coin will embrace a 20% float and also will implement the identical launch schedule because the US President’s token.
The billionaire added that the token’s pockets handle will likely be printed in order that anybody can monitor the move of funds out and in of the handle. He then mentioned that traders who wish to gamble on meme cash can proceed to interact in speculative buying and selling with the brand new token, however then can not less than “make a dent within the US debt.”
Cumulative US debt has risen to just about $36 trillion, in accordance to the US Treasury Division, and is scheduled to hit its ceiling immediately.
TRUMP Meme Coin Plunges 28% After Inauguration Day
Cuban hopes to repeat the success seen with the launch of Donald Trump’s Official Trump ($TRUMP) token simply days earlier than his inauguration yesterday. On Jan. 18, he introduced the launch of the brand new meme coin. It didn’t take lengthy for traders to pile into the crypto, which soared to a market cap price tens of billions of {dollars} simply hours after launch.
My NEW Official Trump Meme is HERE! It’s time to rejoice all the things we stand for: WINNING! Be a part of my very particular Trump Neighborhood. GET YOUR $TRUMP NOW. Go to https://t.co/GX3ZxT5xyq — Have Enjoyable! pic.twitter.com/flIKYyfBrC
— Donald J. Trump (@realDonaldTrump) January 18, 2025
However within the 24 hours after the inauguration, TRUMP’s worth plummeted greater than 29% to commerce at $37.93 as of seven:04 a.m. EST. This marks an over 50% drop from the all-time excessive of $75.35 the crypto reached on Jan. 19.
TRUMP stays the third-largest meme coin, behind Dogecoin and Shiba Inu, with a market capitalization of $7.6 billion.
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