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Billionaire investor and Shark Tank star Mark Cuban has floated the idea of tackling ballooning US debt through the launch of his own meme coin, an idea inspired by the launch of Donald Trump’s Official Trump ($TRUMP) coin.
“If meme coins are the way, maybe I’ll issue one,” Cuban said in a Jan. 20 X post. “One difference. All the revenue from the sale of the coins go to the US Treasury.”
Mark Cuban Meme Coin Will Come With Same Terms As The Recently-Launched TRUMP Token
Cuban said that the proposed meme coin will come with the same terms as the recently-launched Official Trump (TRUMP) meme coin. His new meme coin will include a 20% float and will also implement the same release schedule as the US President’s token.
The billionaire added that the token’s wallet address will be published so that anyone can track the flow of funds in and out of the address. He then said that investors who want to gamble on meme coins can continue to engage in speculative trading with the new token, but then can at least “make a dent in the US debt.”
Cumulative US debt has risen to nearly $36 trillion, according to the US Treasury Department, and is scheduled to hit its ceiling today.
TRUMP Meme Coin Plunges 28% After Inauguration Day
Cuban hopes to repeat the success seen with the launch of Donald Trump’s Official Trump ($TRUMP) token just days before his inauguration yesterday. On Jan. 18, he announced the launch of the new meme coin. It did not take long for investors to pile into the crypto, which soared to a market cap worth tens of billions of dollars just hours after launch.
My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW. Go to https://t.co/GX3ZxT5xyq — Have Fun! pic.twitter.com/flIKYyfBrC
— Donald J. Trump (@realDonaldTrump) January 18, 2025
But in the 24 hours after the inauguration, TRUMP’s price plummeted more than 29% to trade at $37.93 as of 7:04 a.m. EST. This marks an over 50% drop from the all-time high of $75.35 the crypto reached on Jan. 19.
TRUMP remains the third-largest meme coin, behind Dogecoin and Shiba Inu, with a market capitalization of $7.6 billion.
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