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Billionaire investor and television personality Marc Cuban took a subtle dig at the president that of Donald Trump Meme Coin newly launched on Monday, saying it too can consider launching a similar project but with a major twist.
What happened: In a series of tweets, Cuban proposed issuing a coin, similar to the Official Trump (TRUMP), with a 20% offer open to public commerce and following the same unlock schedule.
The difference? All revenue from the sale of these coins would go directly to the US Treasury. For the sake of transparency, Cuban proposed making wallet address details public.
“If you want to play, play. But at least use it to reduce the US debt,” said the “Shark”.
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The American debt has exceeded $36 trillionwith interest payments exceeding $892 billion in fiscal year 2024. The severity of the problem could be gauged by the fact that the United States accounts for 34.6% of global debt.
The idea was countered by a widely followed user artchick.ethwho argued that issues issued by celebrities would not benefit their holders in the long term.
Cuban agreed with these claims, stating that only a few coin projects like Dogecoin (CRYPTO: DOGE) And Shiba Inu (CRYPTO: SHIB) were successful thanks to community engagement.
Tendency : If there was a new fund backed by Jeff Bezos offering Target return of 7-9% with monthly dividends would you invest in it?
Why it matters: Cuba’s statements follow hysteria sparked by Trump’s memecoin project, whose market price soared to billions of dollars over the weekend, only to collapse on presidential inauguration day.