Mark Cuban Shelves Meme Coin Plans: &#039, A Ton Has to Change&#039,

Tech entrepreneur Mark Cuban is stepping down from the dangerous field after a month of tumultuous meme coin controversy. &nbsp,

The tycoon, who officially mulled launching his own image gift in recent months, told he now has no such intentions. &nbsp,

” A lot has to shift in terms of accountability, and more important, fairness”, Cuban said of image cash. ” I don’t want to be involved in a game of musical chairs” .&nbsp,

After backing and promoting a video penny called Libra over the weekend, Brazilian president Javier Milei found himself in a heated debate. The meme is intended to support the growth of the country’s economy by funding little Argentine startups and small businesses. The token immediately rose to a$ 4.5 billion market capitalization before falling dramatically within hours as the coin’s creators pulled the rug.

Hayden Davis, Milei’s so-called meme coin advisor, admitted in a number of interviews shortly after that he had pulled$ 100 million from the project and is now sitting on funds he doesn’t know what to do with.

The ensuing incident, dubbed” Cryptogate” in Argentina, has prompted fraud claims against Milei and calls for his impeachment. &nbsp,

Prior to the Libra story, Mark Cuban had a cautious optimism that, despite their standing, image cash could be a force for good. &nbsp,

After President Donald Trump launched his own Republican key next month—a move Caribbean slammed as” self-serving bullshit” and natural speculation—the past” Shark Tank” host proposed launching a similarly structured gold, with a twist. &nbsp,

Cuban’s coin may have the same tokenomics, and following the same launch routine, but all revenue earned from the project may gain the U. S. Treasury.

” If you want to gamble, gamble”, Cuban said at the moment. Use it at least to reduce US debts.

Although Cuban is a fan of loud open statements that are frequently intended to show a point rather than be taken literally, it seems he was serious about the intentions behind his meme coin. &nbsp,

The Dallas Mavericks owner reposted a picture of Barstool Sports leader Dave Portnoy pondering whether “it’s possible to make a garbage ton of money on my own image gold without screwing people out” after floating his key request for more than a year.

In crypto, though, a lot can change in just a couple days. And if Cuban is currently refusing to launch his own coin without comprehensive consumer protections for the image coin industry, he may be in vain. Weeks after Trump launched his own image gift, the government’s standing SEC head, Hester Peirce, said that most image coins probably won’t fall under the regulator’s purview.