- Cuban pledges full transparency with public wallet addresses, allowing contributors to track their impact on reducing debt.
- Despite initial market success, the practical effect of Cuban’s memecoin on the $36 trillion debt would be minimal.
Mark Cuban has put forth a unique proposition to use memecoins not just for speculation but as a means to contribute towards reducing the United States’ $36 trillion national debt.
Inspired by the recent surge in memecoins, particularly Donald Trump’s, Cuban suggested creating a similar token where proceeds would directly pay down the debt.
Cuban’s Memecoin Initiative
Cuban’s concept involves a memecoin that mirrors the structure of Trump’s token, with a commitment to direct all proceeds towards the national debt. He emphasized transparency, promising to make the wallet address public so contributors can see the impact of their investments.
“If you want to gamble, gamble. But at least use it to make a dent in the US Debt,” Cuban remarked humorously.
This idea came to light following the debut of the TRUMP memecoin on January 18, which quickly reached a market cap of $14.5 billion, though it later halved in value. Similarly, Melania Trump’s memecoin, Official Melania (MELANIA), also saw significant initial success before declining.
If meme coins are the way, maybe I’ll issue one. With a twist. Same terms as $TRUMP . 20% float. Same release schedule. One difference.
All the revenue from the sale of the coins go to the US Treasury. The wallet address will be published so everyone can track it.
If…
— Mark Cuban (@mcuban) January 20, 2025
Despite the novel approach, the practical impact of such a memecoin on the U.S. debt would be minimal.
Even if Cuban’s token matched the performance of Trump’s memecoin and retained its value, it would reduce the national debt by only about 0.03%. The volatility and potential decline in memecoin value could result in even less actual debt reduction.
Cuban’s Commentary on U.S. Debt
In comparison to other comments reported in ETHNews, while possibly not a serious proposal, Cuban’s suggestion highlights the enormous challenge of addressing the national debt.
He points out that while investing in memecoins might be entertaining, they are unlikely to be a viable solution for significant financial issues like national debt.
