Mark Cuban Critiques Crypto Community

Billionaire entrepreneur Mark Cuban criticized the crypto community’s reaction to President-elect Donald Trump launching his own memecoin, arguing that such tokens provide little value and that the rules still need to be followed.

Cuban was responding to a thread that suggested Trump’s memecoin, Official Trump, has removed regulatory concerns from potential token issuers, opening the doors for every company to have its own token. The Shark Tank host said this approach would avoid real ownership and only lead to speculation.

> “Hello every scam targeted at everyone and anyone who has no clue about crypto,” Cuban posted on X. “Goodbye whatever hope the crypto industry had of legitimizing itself.”

Cuban expressed concern that if the new SEC Chair took this approach, enforcing any SEC law would be impossible.

> “Rather than modifying the IPO process to accept crypto and give investors some understanding of what they are buying, any registration requirements just flew out the window,” he added.

In follow-up comments, Cuban questioned whether there would be any value proposition or utility for buyers if institutions like Harvard created their own tokens.

When someone suggested that token contracts could help projects prove ownership of tokens — while it’s hard to prevent fakes in real life — Cuban was critical, noting that most people would not understand how it worked. He concluded, “And what exactly do you get with a meme coin except a seat in a game of musical chairs?”