{"id":14539,"date":"2022-11-16T02:20:17","date_gmt":"2022-11-16T02:20:17","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/mark-cuban-says-ftx-implosion-isnt-crypto-blowup-explains-why-he-invests-in-crypto-featured-bitcoin-news\/"},"modified":"2022-11-16T02:20:17","modified_gmt":"2022-11-16T02:20:17","slug":"mark-cuban-says-ftx-implosion-isnt-crypto-blowup-explains-why-he-invests-in-crypto-featured-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/mark-cuban-says-ftx-implosion-isnt-crypto-blowup-explains-why-he-invests-in-crypto-featured-bitcoin-news\/","title":{"rendered":"Mark Cuban Says FTX Implosion Isn&#8217;t Crypto Blowup \u2014 Explains Why He Invests in Crypto \u2013 Featured Bitcoin News"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div id=\"\">\n<header class=\"article__header\">\n<\/header>\n<div class=\"featured_image_container\">\n<\/div>\n<p><strong>Shark Tank star and the owner of the NBA team Dallas Mavericks, Mark Cuban, says recent blowups in the crypto space, including the FTX implosion, \u201chave been banking blowups,\u201d not crypto blowups. He also explained why he invests in crypto.<\/strong><\/p>\n<h2>Recent Blowups Aren\u2019t Crypto Specific<\/h2>\n<p>Mark Cuban explained on Twitter Saturday that the implosion of FTX is not a crypto blowup. Commenting on his Shark Tank co-star <a href=\"https:\/\/news.bitcoin.com\/kevin-oleary-ftx-collapse-is-a-turning-point-for-the-industry-crypto-bottom-is-in\/\">Kevin O\u2019Leary<\/a> discussing why the collapse of the crypto exchange signals a turning point in the industry, Cuban tweeted:<\/p>\n<blockquote>\n<p>These blowups have not been crypto blowups, they have been banking blowups.<\/p>\n<\/blockquote>\n<p>\u201cLending to the wrong entity, misvaluations of collateral, arrogant arbitrages, followed by depositor runs,\u201d the Shark Tank star elaborated. \u201cSee long-term capital, savings &amp; loan and sub-prime blowups. All different versions of the same story.\u201d<\/p>\n<p>Many people on Twitter agreed with Cuban. One user described: \u201cThere was nothing specific about crypto \u2026 Other recent blowups (3AC, Celsius, Voyager, Blockfi) were all essentially tradfi-style blowups too (too much leverage, bad collateral, poor hedging of liabilities from client deposits, fraud).\u201d<\/p>\n<p>Aventus Ventures CEO Kevin Hobbs wrote: \u201cThis is true. It\u2019s the centralized so-called crypto companies that are heavily invested in by bankers, run by ex-bankers, ex-SEC, CFTC, government that has caused all the largest blowups in crypto.\u201d He added that true decentralized finance (defi) \u201cwith new regulation for Today\u2019s world is what\u2019s needed.\u201d<\/p>\n<p>The host of the Thinking Crypto podcast, Tony Edward, concurred with Cuban, stating:<\/p>\n<blockquote>\n<p>Mark is right here. This was not a crypto failure but a scammer taking advantage of investors and the lack of regulation. Bitcoin, Ethereum, <a class=\"lar-automated-link\" href=\"https:\/\/markets.bitcoin.com\/crypto\/XRP\" target=\"_blank\" rel=\"noopener\">XRP<\/a>, <a class=\"lar-automated-link\" href=\"https:\/\/markets.bitcoin.com\/crypto\/ADA\" target=\"_blank\" rel=\"noopener\">ADA<\/a> blockchains etc are all in tack. It will take time and a major brand institution adopting crypto for us to build trust again with the mainstream.<\/p>\n<\/blockquote>\n<h2>Why Mark Cuban Invests in Crypto<\/h2>\n<p>In another tweet, Cuban shared why he invests in crypto despite recent market sell-offs following the FTX failure. The Dallas Mavericks owner tweeted Sunday:<\/p>\n<blockquote>\n<p>A basic question. Why have I invested in crypto? Because I believe smart contracts will have a significant impact in creating valuable applications.<\/p>\n<\/blockquote>\n<p>\u201cI have said from day one, the value of a token is derived from the applications that run on its platform and the utility they create,\u201d he clarified.<\/p>\n<p><em><strong>Do you agree with Mark Cuban? Let us know in the comments section below.<\/strong><\/em><\/p>\n<div class=\"article__body__author\">\n<div class=\"article__body__author__avatar\">\n<img src=\"https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2016\/12\/Kevin-200x200-closeup-150x150.png\" srcset=\"https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2016\/12\/Kevin-200x200-closeup-150x150.png 1x, https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2016\/12\/Kevin-200x200-closeup.png 2x\" class=\"avatar avatar-150 photo\"\/><\/div>\n<div class=\"article__body__author__info\">\n<h6 class=\"article__body__author__info__name\">\nKevin Helms <\/h6>\n<p class=\"article__body__author__info__about\">\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.<br \/><span class=\"td-social-icon-wrap\"><br \/>\n<a target=\"_blank\" href=\"https:\/\/news.bitcoin.com\/mark-cuban-says-ftx-implosion-isnt-crypto-blowup-explains-why-he-invests-in-crypto\/mailto:kevin@bitcoin.com\" title=\"Mail\" rel=\"noopener\"><br \/>\n<i class=\"td-icon-font td-icon-mail-1\"\/><br \/>\n<\/a><br \/>\n<\/span>\n<\/p>\n<\/div>\n<\/div>\n<p class=\"images_credits\"><em><b>Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n<div class=\"disclaimer\">\n<p><strong>Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. <a href=\"https:\/\/bitcoin.com\">Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n<div class=\"bottom_article_widgets\">\n<aside id=\"bn_widget_spacing-18\" class=\"td_block_template_1 widget widget_bn_widget_spacing\"\/>\n<aside id=\"custom_html-21\" class=\"widget_text td_block_template_1 widget widget_custom_html\">\n<h4 class=\"block-title\"><span>More Popular News<\/span><\/h4>\n<\/aside>\n<aside id=\"bn_widget_spacing-19\" class=\"td_block_template_1 widget widget_bn_widget_spacing\"\/>\n<aside id=\"custom_html-46\" class=\"widget_text td_block_template_1 widget widget_custom_html\"\/>\n<aside id=\"bn_widget_spacing-20\" class=\"td_block_template_1 widget widget_bn_widget_spacing\"\/>\n<aside id=\"custom_html-30\" class=\"widget_text td_block_template_1 widget widget_custom_html\">\n<h4 class=\"block-title\"><span>In Case You Missed It<\/span><\/h4>\n<\/aside>\n<\/div>\n<\/div>\n<p><script>(function(d, s, id) {\n        var js, fjs = d.getElementsByTagName(s)[0];\n        if (d.getElementById(id)) return;\n        js = d.createElement(s); js.id = id;\n        js.src=\"https:\/\/connect.facebook.net\/en_US\/sdk.js#xfbml=1&version=v3.2\";\n        fjs.parentNode.insertBefore(js, fjs);\n    }(document, 'script', 'facebook-jssdk'));<\/script><br \/>\n<br \/><a href=\"https:\/\/news.bitcoin.com\/mark-cuban-says-ftx-implosion-isnt-crypto-blowup-explains-why-he-invests-in-crypto\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Shark Tank star and the owner of the NBA team Dallas Mavericks, Mark Cuban, says recent blowups in the crypto space, including the FTX implosion, \u201chave been banking blowups,\u201d not crypto blowups. He also explained why he invests in crypto. Recent Blowups Aren\u2019t Crypto Specific Mark Cuban explained [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":14540,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/14539"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=14539"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/14539\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/14540"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=14539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=14539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=14539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}