Skip to navigationSkip to main contentSkip to right columnMarcel KnoblochTue, June 16, 2026 at 11:58 PM GMT+2 4 min readAfter Coinbase CEO Brian Armstrong called for a rethink of accredited investor laws in the United States, billionaire investor Mark Cuban replied on June 16 with a blunt line on X: “Just sell em MemeCoins Brian!”It was short, sarcastic, and very Cuban.But behind the joke sits a serious criticism of how American markets treat retail investors. On X, formerly known as Twitter, Armstrong argued that the current rules keep ordinary investors away from some of the most attractive early-stage opportunities, while wealthy investors continue to get access before everyone else.A system built around wealth, not knowledgeHis main point was simple. Many companies now stay private for much longer than they used to. By the time a company finally goes public, a large part of the upside may already have been captured by venture capital firms, private funds, and accredited investors.Retail investors are then left to buy after the IPO, often at a much later and more expensive stage.Armstrong said the rules were originally designed with good intentions. They were meant to protect regular people from scams, excessive risk, and deals they might not fully understand.But, in his view, the outcome has become unfair. Instead of protecting people, the rules may now be protecting access for those who are already wealthy.Under the current accredited investor framework, access is largely tied to income, net worth, or professional status. Armstrong criticized that approach, saying it effectively creates a system where being rich gives someone the right to take financial risks, while everyone else is treated as if they cannot make their own decisions.He described the situation as regressive. In other words, a rule that was created to protect people may now be limiting their ability to build wealth.Trending on TheStreet RoundtableBitcoin climbs as traders eye Fed, Iran dealWhy 160 national security veterans back the CLARITY ActBillionaire Tim Draper warns of a bigger threat to banksArmstrong proposes two ways forwardArmstrong floated two possible alternatives. The first would be to replace the current wealth-based standard with a financial literacy test. If someone can prove they understand risk, private markets, and investment basics, they should be allowed to participate.The second option would go even further. Armstrong said the rule could be removed entirely, allowing consenting adults to assess their own risk. Disclosure requirements would remain in place, and fraud would still be punished. But access would no longer depend mainly on whether someone is already wealthy.Terms and Privacy PolicyPrivacy & Cookie SettingsMore Info