Mark Cuban, a supporter of billionaire cryptographers and owner of the NBA team Dallas Mavericks, also felt the heat of the recent crypto market crash. He said he “got hit like everyone else” because he invested in Iron Finance’s Titan token, based on the DeFi protocol, which crashed from about $ 64.04 (about 4,736 rupees) to almost zero within 24 hours. He did not disclose the value of his loss. Days before he found out about the impact of the crash on him, a crypto enthusiast read in a blog post regulating cryptography focused on distributed financing (DeFi) and electrical products.
When a Twitter user wondered if a Cuban was “rough” or “hardened” by a token, he replied: “I got hit like everyone else. The crazy part is I went out, I thought they were increasing their TVL [Total Value Locked] enough. Then Bam. ”
I got hit like everyone else. The crazy part is that I went out, I thought they were increasing their TVL enough. Than in them.
– Mark Cuban (@mcuban) June 16, 2021
Iron Finance called the Titan’s collapse an “illogical and frightening event” and “the operation of the world’s largest encryption bank.” B Disclaimer, Iron Finance blamed the crash on “some big holders” who rushed to sell the token. At the time of writing, Crypto is trading at $ 0.000008132, according to CoinMarketCap.
In an earlier Twitter post, Cuban said cryptocurrencies’ businesses “make more sense than you think,” adding: “They’re just businesses like everyone else, with some huge benefits.”
Crypto businesses make more sense than you think and estimating tokens is easier and more sensible than you think. They are just business like everyone else, with some huge benefits. My blog post on the matter https://t.co/uICS2H9JGs
– Mark Cuban (@mcuban) June 14, 2021
Shark Star The shark has been in the crypto space for some time. recently Blog, He stated that he focuses on DeFi innovation and distributed exchange platforms. In the blog he also explained DeFi’s world from his point of view.
On June 13, about the time Cuban shared his blog, Titan traded at $ 29 (about Rs 2,152). The token peaked at $ 64.04 after three days, but investors soon began selling their holdings and the negative sentiment swept the market. Titan’s value soon came close to zero.