After a week of chaotic meme coin controversy, tech entreprenuer Mark Cuban is distancing himself from the volatile sector.
The billionaire, who publicly mulled launching his own meme token in recent weeks, told Decrypt he now has no such plans.
“A lot has to change in terms of transparency, and more importantly, fairness,” Cuban said of meme coins. “I don’t want to be involved in a game of musical chairs.”
Over the weekend, Argentinian president Javier Milei found himself embroiled in controversy after endorsing and promoting a meme coin called Libra, billed as “dedicated to encouraging the growth of the Argentine economy by funding small Argentine businesses and startups.” The token immediately soared to a $4.5 billion market capitalization, then tanked within hours as the team behind the coin pulled the rug.
Milei’s so-called meme coin advisor, Hayden Davis, admitted in multiple interviews shortly thereafter that he pulled $100 million from the project and is now sitting...
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