Mark Cuban is rich, the billionaire is also known to be an outspoken supporter of Ethereum, non-fungible tokens and decentralized finance. Now it happened that as an investor he had to bite the bullet and, together with many other investors, suffered a total loss.
A rug pull could have been the reason why the price for TITAN collapsed without further ado. The Iron Titanium Token is the in-house token of Iron.Finance, a decentralized stablecoin protocol. The token lost 100% of its value within a very short time.
The development team has a completely different explanation and is assuming a run on the liquidity reserves, which was tantamount to a bank run and caused the crash. In the end, the cause has not been conclusively clarified. The fact is that the token dropped from $ 65 to $ 0.000000036150. A brutal loss that can no longer be compensated.
Cuban calls for regulation
Cuban was initially optimistic about the media and took his loss, which he called minor, athletically, but then asked Bloomberg to regulate stablecoins and thus indirectly that of the DeFi sector. This not only caused a lot of commercials on social media, but also raises the question of how regulators should intervene in this environment at all.
Compared to Bloomberg , Cuban called for better regulation of stablecoins and clearer definitions of how they should be covered. In his opinion, there is too much ambiguity here. A question that should also concern Cuban, because the project in which he lost money is a decentralized stablecoin solution.
If protocols are actually supported and maintained by developers around the world open source, it looks rather bleak. In particular, decentralized stablecoin projects that are not directly covered by fiat currency seem particularly difficult to grasp. The situation is different with projects that have an identifiable team and company.
FaucetPay & My Top Picks of their linked
Honeygain - Passive earner that pays in BTC or PayPal
BetFury - Stack BFG for daily dividends - Play smart!
Pipeflare - Faucet that pays in ZCash and Doge, Games pay in DAIWomplay - Mobile dApp gaming platform that rewards in EOS
Cointiply - The #1 Crypto Earning SiteLiteCoinPay -
The #1 FaucetPay earner for Litecoin Upland - Collect Digital Properties & Test Your Skills Publish0X - Earn Money By Writing and Reading Articles! LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FireFaucet - An earning site that pays better for some than Cointiply
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, USDT, FEY, 25 Claims Daily
Comments
Post a Comment