Billionaire Mark Cuban, who owns the Dallas Mavericks, said Friday that he is considering issuing a meme coin, mirroring the structure of President Donald Trump’s recent crypto project $TRUMP.
The meme project will use terms similar to the $TRUMP coin, which has a 20% float. At launch, only 20% of the total supply, or 1 billion tokens, was made available, while Trump, his family and related companies retain the rest.
This approach controls supply to stabilize or increase the coin’s value. Additionally, the remaining 80% of tokens will unlock over three years, preventing a sudden sell-off and a potential price crash.
Mark Cuban’s Meme Coin to Send Proceeds to US Treasury
Cuban said that his meme project would follow the $TRUMP coin model with a unique twist: all coin sale proceeds would go directly to the US Treasury. He assured transparency, saying the wallet address would be shared so anyone could track the funds. He added that while participants could treat it as a gamble, they would still help reduce the US debt.
Further, Cuban stated that launching the meme coin would be simple. He has actively supported meme coins in the past, especially Dogecoin, calling its community “the strongest” for using it as a medium of exchange. He has also revealed owning $494 worth of DOGE. Additionally, his basketball team, the Dallas Mavericks, previously accepted Dogecoin for merchandise and tickets.
Trump’s Solana-Based Token Drops 22% After Initial Surge
Meanwhile, President Trump launched a meme token on the Solana blockchain over the weekend, generating billions in initial trading volume. However, it dropped on Monday before his inauguration but later saw a slight recovery. The token was last down 22% on Tuesday, priced at $35.29, with a market cap of $7.05b.
Trump and associated entities like CIC Digital LLC and Fight Fight Fight LLC control 80% of the coin’s supply. This raises concerns about possible conflicts of interest, since Trump, as president, can shape crypto regulations. The coin leverages Trump’s image and political narrative, appealing to his supporters and meme culture enthusiasts. It cleverly blends political backing with crypto speculation.
The post Billionaire Mark Cuban Teases Meme Coin Modeled After Trump’s New Token appeared first on Cryptonews.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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