Prominent cryptocurrency advocates Mark Cuban and Max Keiser criticized former President Donald Trump’s move to proceed with the sale of tokens tied to his much-touted cryptocurrency project, World Liberty Financial (WLFI).
What Happened: Billionaire investor and popular face on television, Cuban stated, “I'll let this stand on its own,” while reacting to Trump’s announcement of the upcoming sale.
A known Trump critic, Cuban wondered why the Republican presidential hopeful would attempt such a thing when “he has Elon [Musk] writing him checks.”
Cuban also echoed Alex Miller, CEO of Web3 platform Hiro, who described the token sale as an “obvious pump scheme.”
Furthermore, influential Bitcoin BTC/USD bull Max Keiser, who serves as the senior adviser to El Salvador President Nayib Bukele on policies regarding the leading cryptocurrency, said that Trump failed in what he described as a “Bitcoin IQ test.”
Why It Matters: The scathing remarks came as Trump announced that the token sale would go live Tuesday morning, deeming it a step toward shaping the future of finance.
The project aims to raise $300 million from the initial sale of the so-called WLFI token by offering 20% of the supply at a $1.5 billion fully diluted valuation
Cuban’s relationship with Trump has been marked by both cordial exchanges and public feuds. The ‘Shark’ admitted to initially supporting Trump's 2016 presidential campaign, appreciating his non-traditional political approach. However, he later criticized Trump for not making efforts to learn about key issues, leading to a fallout.
Cuban has also attacked Trump’s cryptocurrency plans, pointing out that they might backfire in the long run.
Image via Flickr
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