Billionaire investor Mark Cuban appears to be making moves to distance himself from crypto companies. Meanwhile, a tweetstorm is brewing elsewhere in the crypto community.
On Nov. 21, it was observed that Mark Cuban had begun unfollowing many prominent crypto Twitter accounts.
Some of the accounts that the Dallas Mavericks owner no longer wants to hear from include Nansen, Uniswap, Solana, The Block, DeFi Pulse, Dapper Labs, and MetaMask.
Most of his most recent tweets have revolved around support for Elon Musk’s Twitter takeover and subsequent actions. There were some pharmaceutical-related tweets as well, but no mention of anything crypto-related for at least a week.
Burgeoning Mark Cuban Crypto Portfolio
Furthermore, the billionaire has spent the past couple of years building a burgeoning portfolio of crypto companies. The blockchain category on his website lists 28 crypto firms and projects.
Some of the more prominent ones include Nifty’s, KlimaDAO, Mintable, DeFi Alliance, OpenSea, CryptoSlam, Zapper, Polygon, and Arbitrum.
Despite having invested millions in crypto startups, Cuban appears to have u-turned on the asset class. In September, he said crypto was “kind of boring.” He compared it to the early days of the internet when not much happened. At the time, Cuban said crypto was like this, adding, “it’s all boring, right? Because we haven’t seen anything new.”
Mark Cuban remains keen on nonfungible tokens (NFTs), however. He also wants to leverage digital assets to appeal to fans of his team.
The billionaire has also been linked with the now-bankrupt Voyager Digital platform. His latest push to distance himself from crypto may have stemmed from that and the lawsuit that followed.
Speaking at a conference on Nov. 11, he lambasted Sam Bankman-Fried exclaiming, “He’s just ‘Gimme more, gimme more, gimme more.’”
On Nov. 14, Cuban said he invested in crypto because smart contracts can make valuable applications and utility.
Kevin O’Leary and BitBoy Do Battle
Meanwhile, Cuban’s Shark Tank co-star Kevin O’Leary has got into a spat with Ben Armstrong, aka ‘BitBoy.’
The Twitter tussle stemmed from O’Leary’s comments regarding SBF, which BitBoy claims were made under duress. He also exposed O’Leary, who reportedly backed WonderFi to buy Canadian crypto exchange Coinberry.
The tweet storm continued, bringing nothing creative or productive to the already battered crypto ecosystem.
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Source: https://beincrypto.com/mark-cuban-distancing-himself-from-crypto-firms-amid-capitulation-wave/