NBA Dallas Mavericks owner Mark Cuban on Saturday claimed he isn’t giving up on crypto merely because of the bankruptcy of crypto exchange FTX. He thinks the crypto industry may lose Sam Bankman-Fried, its former CEO, to prison, but that it is still worth a lot of money.
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On Monday, Mark Cuban started unfollowing various crypto Twitter accounts, with some speculating that he is distancing himself from crypto.
Mark Cuban Is Still Investing in Cryptocurrency.
Although the fall of FTX has hurt investors and crypto startups, billionaire Mark Cuban still believes in crypto. According to a November 26 TMZ Sports report, despite the failure of crypto exchange FTX, Mark Cuban still sees a lot of value in the underlying assets.
The signal from the noise,” Cuban said. “There have been many blunders, but it doesn’t alter the fundamental worth.”
Despite the challenges, he is still confident in the Bitcoin business and its potential. Unless consumers are left without any good cryptocurrency options, Mark Cuban does not expect the currency to crash.
FTX CEO, Sam Bankman-Fried
Cuban has stated that he believes the former FTX CEO, Sam Bankman-Fried, will be going to prison soon. He had faith in Sam Bankman-sage Fried’s counsel but never imagined he would steal from his clients.
“I don’t know all the details, but if I were him, I would be frightened of going to jail for a long period,” Cuban remarked. I had a conversation with him, and he seemed really savvy.
Elon Musk and his impact on Twitter
When asked about Elon Musk and his impact on Twitter, Cuban said Elon Musk has indeed improved user experience since owning Twitter.
On Monday, Mark Cuban unfollowed a number of well-known cryptocoin-related Twitter accounts, including Nansen, Uniswap, Solana, DeFi Pulse, Dapper Labs, and MetaMask. After the FTX market crash, speculation began that he was abandoning the cryptocurrency industry. Cuban has put money into a wide variety of blockchain initiatives, including as KlimaDAO, Mintable, DeFi Alliance, OpenSea, CryptoSlam, Zapper, Polygon, and Arbitrum.
The Crypto Market Is Beginning to Revive
As industry leaders continue to instil confidence in investors, the cryptocurrency sector is slowly climbing back from the FTX contagion.
The price of bitcoin and ether has stabilised at at $16.5k and $1.2k, respectively, after having fallen recently. Nearly 5% was gained in the last 24 hours by altcoins like as Dogecoin, XRP, BNB, and others.
Source: Google Trend