Mark Cuban Slams Memecoins, Says They Set A 'Bad Example' For New Crypto Investors

Benzinga

2025/05/09

Billionaire investor and Shark Tank fame Mark Cuban criticized the growing popularity of memecoins and said that it undermines the “value and utility” of cryptocurrencies.What Happened: When asked ...

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Specifically, he transferred his shares in the company to a trust controlled by his son, Donald Trump Jr., to mitigate potential conflicts of interest ahead of his swearing-in ceremony.However, Cuban was supportive of Trump’s efforts to regulate cryptocurrencies at large. “I’m glad to see what he has done from a regulatory perspective,” he said, adding, “I’m thrilled to see changes at the SEC. They are long overdue.”See Also: Tinder Parent Match Group Cuts 13% Of Workforce After Earnings Miss, Taps Gen Z Features Like ‘Double Date’ To Spark GrowthGet StartedStart Your Crypto Journey Today and Get $500 in RewardsExclusively for new Crypto.com App users, unlock up to $500 worth of rewards in the most popular tokens when you start trading.Get StartedWhy It Matters: A Trump-owned business entity holds a 60% stake in World Liberty and receives 75% of all coin sale revenue. Eric Trump and Donald Trump Jr. are involved in management, while Zachary Folkman, Chase Herro, and Zach Witkoff handle daily operations.  This Trump family-backed platform launched its stablecoin $TRUMP TRUMP/USD in January alongside other digital currencies. The coin has surged 1082.11% since it began trading on Jan. 18.As of the publication of this article, it was 18.91% at $14.44 per coin.The SPDR S&P 500 ETF Trust SPY and Invesco QQQ Trust ETF QQQ, which track the S&P 500 index and Nasdaq 100 index, respectively, were slightly higher in premarket on Friday. The SPY was up 0.33% to $566.90, while the QQQ advanced 0.46% to $490.52, according to Benzinga Pro data.Read Next:\nMohamed El-Erian Flags ‘Adverse Implications’ For Domestic Industries As China’s Exports Rise 8% Despite 21% Drop In US Shipments\nPhoto Courtesy: Akif CUBUK on Shutterstock.comLoading...Loading...$TRUMPOfficial Trump$14.3513.9%Stock Score Locked: Want to See it?Benzinga Rankings give you vital metrics on any stock – anytime.Reveal Full ScoreEdge RankingsMomentum-Price TrendShortMediumLongOverviewDJTTrump Media & Technology Group Corp$25.360.88%QQQInvesco QQQ Trust, Series 1$488.670.08%SPYSPDR S&P 500$565.300.04%Got Questions? AskHow will memecoins impact investor sentiment?Which crypto regulations could boost legitimate coins?Could Trump's ventures influence altcoin markets?What effects could memecoin criticism have on startups?How might investor education reshape crypto investments?Which stablecoins could gain traction post-$TRUMP?How will SEC changes affect crypto compliance?Which companies might benefit from crypto regulation?Could DJT's performance affect market dynamics?What are the risks for investors in memecoins?Powered ByMarket News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}