Mark Cuban Slams TRUMP Coin As Crypto Chaos, Praises Shiba Inu And Dogecoin

Billionaire Mark Cuban has slammed the newly launched TRUMP coin, labeling it a symbol of crypto chaos while offering praise for established meme coins like SHIB and DOGE.

Cubans remarks, made on Monday, came in response to the growing frenzy surrounding the Trump-themed cryptocurrency, which has seen a meteoric rise since its debut.

Mint it, print it, Sell it, F** it. That is the mantra for the world you are suggesting. This is the biggest bunch of self-serving bullshit I have ever heard. Cuban wrote.

His comments were directed at a tweet by Jeff Dorman, Chief Investment Officer of Arca, who argued that the TRUMP coin signals a pivotal shift in the crypto landscape. According to Dorman, The President himself is both an issuer and an investor, which could encourage broader crypto adoption as a capital formation tool. He envisioned a future where tokens become ubiquitous, predicting that major institutions like universities, municipalities, and brands could adopt similar mechanisms.

Cuban accused the TRUMP coin of promoting speculation over legitimate ownership and warned that it jeopardizes the crypto industrys efforts to gain credibility. Cuban further called out regulatory bodies, asserting that the coins emergence undermines the SECs ability to enforce securities laws.

In a separate tweet, Cuban acknowledged the success of meme coins with real value and strong communities, stating, Its why Doge, Shiba Inu, and only a few others have worked. Its about the community long term No promises. No pumps. Just complete transparency.

Cubans comments responded to a user who observed that sustainable meme coins require time and organic growth for a strong community to emerge. The user pointed out that hype-driven launches often result in short-term speculation, leaving tokens in the hands of traders rather than community builders.

Cubans remarks drew a response from Shytoshi Kusama, the lead developer of Shiba Inu, who rallied the SHIB community with the tweet, SHIBARMY let him HEAR YOU!

Kusamas reaction came amid a weekend shake-up in the meme coin rankings, as TRUMP briefly overtook SHIB over the weekend to become the second-largest meme coin by market capitalization before slipping back to third place. TRUMP coin has surged to a $8.95 billion market cap, second only to DOGE and SHIB.

Meanwhile, prominent voices in the crypto industry have expressed mixed opinions. Robert Kiyosaki, author of Rich Dad Poor Dad, dismissed TRUMP as a farce, urging investors to stick to Bitcoin and traditional assets. Elsewhere, Nick Tomaino, a former Coinbase executive, criticized the coins launch as predatory, citing concerns about its tokenomics, with 80% of the supply reportedly controlled by Trump-affiliated entities.

However, Balaji Srinivasan, another ex-Coinbase executive, offered a pragmatic view, suggesting ways to add value to TRUMP. He proposed token-gated events, community-building efforts, and leveraging the coins on-chain holder list for targeted political outreach.

Text source: ZyCrypto

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