The launch of President Donald Trump's meme coin $TRUMP has sparked much controversy within the crypto community, with many opinions suggesting it diminishes the credibility of the industry. #MarkCuban , a famous investor and Dogecoin fan, also did not hold back in strongly criticizing this project.
Mark Cuban: TRUMP Meme Coin Harms the Image of Crypto
In a post on X (Twitter), Cuban stated that the launch of this meme coin makes it difficult for the crypto industry to 'legalize' itself in front of lawmakers and investors.
He also emphasized that regulations on crypto may now face more challenges as the government and the public lose trust in the industry.
TRUMP Meme Coin: Positive Signal or Negative?
The TRUMP token was released with 80% of the supply held back by CIC Digital LLC and Fight Fight Fight LLC, with a plan to gradually unlock it over the next 3 years.
The price of TRUMP peaked at 73 USD, but then dropped sharply by 40% to 40 USD, partly due to First Lady Melania Trump also launching her own meme coin.
Cuban criticizes that this meme coin does not have a real community like $DOGE , which has evolved from a fun project into a strong coin with a market capitalization of 53 billion USD.
Regulations on Crypto Under Question
Cuban warns that this event could lead to stricter regulations being put in place, especially after Gary Gensler, the former SEC chairman, became a central figure in crypto controversies.
Some lawmakers, like Ro Khanna (D-CA), have proposed banning officials from issuing meme coins and requiring them to be regulated like gambling.
What Future Awaits Crypto After the TRUMP Effect?
Although the TRUMP meme coin created a big buzz, many experts believe it could leave a negative impact on the entire industry.
However, Cuban still asserts that Dogecoin is a rare success story, having built a strong community and real value.
👉 The TRUMP meme coin may just be a short-term fad, but its impacts on the crypto industry and future regulations remain concerning. #anhbacong