Mark Cuban, Max Keiser Slam Donald Trump's Cryptocurrency Token Sale as an ‘Obvious Pump Scheme’

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

Former President Donald Trump is proceeding with the sale of tokens tied to his much-touted cryptocurrency project, World Liberty Financial (WLFI). Now, prominent cryptocurrency advocates are slamming the move.

Billionaire investor and popular television personality Mark Cuban simply stated, “I'll let this stand on its own,” while reacting to Trump's announcement of the upcoming sale.

A known Trump critic, Cuban questioned why the Republican presidential hopeful would attempt such a thing when “he has Elon [Musk] writing him checks.”

I'll let this stand on its own https://t.co/metmpsq7kW

Cuban also echoed Alex Miller, CEO of Web3 platform Hiro, who described the token sale as an “obvious pump scheme.”

Moreover, influential Bitcoin (BTC) 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.”

Bitcoin is an IQ test. Trump failed. https://t.co/pAnWo4UvP6

Trump announced that the token sale would go live on Tuesday morning, calling 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 seen 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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