Mavericks owner and investor Mark Cuban still believes in crypto, even though the entire cryptocurrency market is reeling under the FTX collapse.
His optimism is based on the key underlying technologies that allow crypto transactions to be made, known as smart contracts.
Cuban says that smart contracts will be a great tool in creating valuable applications for everyone in the crypto market.
According to Cuban, the recent crypto turmoil due to the FTX fiasco is an example of banking blowups, not crypto blowups.
Talking about the FTX collapse, Cuban has said, "With FTX now — that's somebody running a company that's just dumb as f**k greedy."
Cuban has said that 80% of his non-"Shark Tank"-related investments are focused on and around cryptocurrencies.
In a recent interview, Cuban spoke about what he thinks would be the next big thing for the crypto industry.
According to him, non-fungible tokens (NFTs) present a massive opportunity in the book industry.
Cuban holds Ethereum ETH/USD, Bitcoin BTC/USD, and several small-cap altcoin tokens.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
