Billionaire investor Mark Cuban took a “memecoin” swipe at Brian Armstrong on Monday, in response to Coinbase Global Inc. (NASDAQ:COIN) CEO’s call to revisit accredited investor rules in the U.S.
Armstrong Bats For Retail Investors Amid IPO Wave
Armstrong said on X that current rules unfairly restrict “retail investors” from early-stage private deals, forcing them to wait until IPOs, when much of the upside has already been captured.
“These rules were created with the best of intentions, to protect regular people from scams – a noble idea,” he added. “Unfortunately, in practice, they’ve often made it illegal to get richer, unless you’re already rich.”
His remarks follow the blockbuster stock market debut of Space Exploration Technologies Corp. (NASDAQ:SPCX), which operated as a private company for over 24 years.
Artificial intelligence giants OpenAI and Anthropic are also on track to go public, having filed confidential paperwork for their respective IPOs earlier this month. OpenAI has remained a private company since 2015, while Anthropic has been privately held since 2021.
Cuban Jabs …
