2025-01-21 08:59:47 by coinpaprika

By Jakub Lazurek 21 Jan 2025 (about 1 hour ago) 2 min readMark Cuban suggests creating a meme coin to donate proceeds to the U.S. Treasury, highlighting concerns over scams in the booming meme coin market.Billionaire Mark Cuban recently suggested creating a meme coin, with proceeds going to the U.S. Treasury, sparking both curiosity and debate. While Cuban’s remarks may be sarcastic, they highlight the ongoing frenzy and risks in the meme coin market, where scammers often prey on inexperienced investors. On social media, Cuban joked about launching a meme coin with terms similar to the popular TRUMP token. “All revenue would be donated to the U.S. Treasury, and the wallet address would be publicly visible,” he said, adding that it could at least help reduce the national debt while offering a speculative opportunity. Although technically feasible—since the Treasury accepts private donations—Cuban’s comments reflect his frustration with the recent meme coin explosion. Tokens like TRUMP and MELANIA, launched just before Trump’s inauguration, became billion-dollar assets overnight, overshadowing long-established crypto projects. Cuban has criticized the simplicity with which meme coins are created, warning that this trend invites scams. “If meme coins are the future, then everyone should just create their own TRUMP and MELANIA tokens. Nothing is stopping you. Use Solana, Ethereum, Base, or any blockchain and get paid!” he posted, mocking the situation. The meme coin market is increasingly associated with rug pulls, where token creators suddenly withdraw funds, leaving investors with worthless assets. Over the weekend, figures linked to Trump were reportedly involved in such schemes, including a pastor who launched a questionable token. Surveys show many buyers of TRUMP tokens are newcomers to crypto, making them prime targets for scams. Cuban’s remarks underscore concerns about the crypto industry’s reputation. He has repeatedly criticized the lack of regulation and transparency in this space. Fake "CUBAN" tokens have already surfaced online, even though Cuban has not confirmed any plans to launch a coin. His sharp critique suggests he is unlikely to seriously pursue such a project. “This wave of rug pulls is destroying crypto’s credibility and throwing away its chance to become legitimate,” he wrote. For now, the meme coin market remains highly speculative and dangerous. Investors should approach these tokens with extreme caution, as scams and unregulated projects continue to spread. Go back to All News