- Cuban has proposed launching a memecoin to fund the U.S. Treasury.
- The billionaire was less optimistic about the U.S. BTC reserve initially proposed to address U.S. debt concerns.
The viral and historic on-chain capital creation by the ‘Official Trump memecoin’ has inspired more public figures. Mark Cuban has floated a memecoin idea to tackle the U.S. debt crisis.
In an X (formerly Twitter) post, Cuban stated that the memecoin would mirror TRUMP but with a different twist.
“If memecoins 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.”
Can memecoins solve U.S. debt?
For context, President Donald Trump’s ‘TRUMP’ memecoin hit nearly $16B in market cap just a few hours after launch.
Per Cuban, such a success could be diverted to fund the U.S. Treasury and reduce the debt burden, which stands at $36 trillion. Some community members supported the idea.
Ansem, a crypto analyst and social media influencer, stated,
“We will simply undo the $36T in US debt by gambling on memecoins.”
However, it’s worth pointing out that the TRUMP memecoin launch elicited mixed reactions. For Solana’s leadership, it was a stress test for the chain after it handled such a massive load of speculators.
But another camp criticized the move, stating that it drained all market liquidity as everyone rushed to bet on TRUMP. The result? Every market segment saw a massive sell-off apart from TRUMP and SOL.
About 72 hours later, the TRUMP memecoin value dropped by over half, a move some called exploitative ‘value extraction’ from the market.
For perspective, the TRUMP memecoin briefly surpassed MicroStrategy’s size in just two days, as captured by one user.
“$TRUMP passed $MSTR in market cap. A company that owns 450,000 Bitcoin is now worth less than a meme created 2 days ago.”
Another community member stated that the President’s memecoin launch wasn’t a ‘good thing’ for the market.
In fact, it reinforced the popular view that the only Product Market Fit (PMF) for crypto is gambling, dwarfing other use cases like inflation hedges (stablecoins) in developing countries or real-world asset tokenization (RWA).
That said, Cuban’s proposal appeared to have a slight twist on his memecoin.
However, some community members have suggested that the US BTC strategic reserve could be more impactful in addressing U.S. debt concerns. Cuban was less optimistic about such an outcome.
Source: X
That said, whether the billionaire will proceed with his plan and its impact on U.S. debt and the markets remains to be seen.
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