Billionaire Investor call for crypto regulation

[lixer]

Cuban hasn't revealed how much he lost on the project, telling Bloomberg that "as a percentage of my crypto portfolio it was small ... but it was enough that I wasn't happy about it." "I got hit like everyone else," Cuban told a fellow DeFi investor via Twitter who suggested Cuban had been "rugged"—when project liquidity drys up and investors are unable to withdraw cash.

Cuban—who revealed in March that 60% of his crypto holdings are in bitcoin, 30% in ethereum, and 10% in other coins—has recently begun experimenting with DeFi, writing this month in a blog post that "banks should be scared" of the largely unregulated and burgoning technology.

Crypto regulations are not really a bad thing as long as it is a good regulation. Mark Cuban is a crypto investor and when there are good regulations on crypto that helps us a lot more. Look at some nations like El Salvador and see how great that is for crypto, and look at new york regulations and how bad it is for crypto. Basically, it is depending on what regulations you put on crypto, if it is a bad one than it will have bad impact and if it is a good one then it will have a good impact. I think that Mark Cuban as a crypto investor wanted a good one, definitely something that we all would benefit to have a billionaire working with us to get it.

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[livingfree]

IIRC, this was the time that the DeFi he has invested started to rug pull. Well, if that's the only reason, such investments that really are intriguing should be regulated to avoid scamming people.

But it had took a Mark Cuban for this call but what's happening right now? did the government started to take action as he suggested?

[zonefloor]

According to me, he politely said that I have earned the money I will earn now, and after this time, you can regulate crypto money. Stable coins are already available in the cryptocurrency market. Other than that, they should make their ups and downs freely. The field called Defi was not available in the cryptocurrency market until yesterday, and I don't think it will remain. That's why someone is constantly saying something just to be on the agenda and add money to their money. With this kind of speculation, it's always the winners themselves. Cryptocurrency should always remain at its free market value.

[Maslate]

IIRC, this was the time that the DeFi he has invested started to rug pull. Well, if that's the only reason, such investments that really are intriguing should be regulated to avoid scamming people.

But it had took a Mark Cuban for this call but what's happening right now? did the government started to take action as he suggested?

Well, I hope the government will listen to him...but probably they don't have the interest in doing as the government itself have no control over these decentralized exchanges. Mark Cuban is not new to this, he already knows the risk of investing money in here, then he couldn't think about blaming the market as he knows it.

if he can afford to lose that huge amount, then he will go away. We understand that the market needs more investors but if this only influence the market to get controlled by the government regulations, I don't think so. And the possibility that they will take advantage of this.

[DarkDays]

Not new on DeFi community. 

But is sucks when you are invested on Stablecoin then it collapse like hell, Only in DeFi this things will happened since most of the teamm there are anonymous which is very easy for them to rug pull.

Hmm, of course this Cuban guy is going to bring the DeFi down after his humiliating sable investment collapse. I must add that just because his particular investment was poor does not mean that everything else built in DeFi is poor or a way to scam others. The risks for sure are real but so are the returns if investing wisely.

I understand that for common people understanding all of the DeFi jargon might be challenging Cuban's lesson acts as a force to regulate the industry but we must not forget the value of decentralized economies.

[AmoreJaz]

Not new on DeFi community.  

But is sucks when you are invested on Stablecoin then it collapse like hell, Only in DeFi this things will happened since most of the teamm there are anonymous which is very easy for them to rug pull.

Hmm, of course this Cuban guy is going to bring the DeFi down after his humiliating sable investment collapse. I must add that just because his particular investment was poor does not mean that everything else built in DeFi is poor or a way to scam others. The risks for sure are real but so are the returns if investing wisely.

I understand that for common people understanding all of the DeFi jargon might be challenging Cuban's lesson acts as a force to regulate the industry but we must not forget the value of decentralized economies.

but if he got lucky with his investments, for sure, the air would be different and maybe endorsing the platform that he is heavily invested. regulation may curb potential scam projects but i don't think it will hinder these scammers to rug pull. they will always find a way how to get around such protocols or regulations. and it would be hard for their investors to run after them. also, in most cases, these defi platforms are anonymous. so yeah, hard to chase them in court if you dont know who you are after.

[livingfree]

IIRC, this was the time that the DeFi he has invested started to rug pull. Well, if that's the only reason, such investments that really are intriguing should be regulated to avoid scamming people.

But it had took a Mark Cuban for this call but what's happening right now? did the government started to take action as he suggested?

Well, I hope the government will listen to him...but probably they don't have the interest in doing as the government itself have no control over these decentralized exchanges. Mark Cuban is not new to this, he already knows the risk of investing money in here, then he couldn't think about blaming the market as he knows it.

if he can afford to lose that huge amount, then he will go away. We understand that the market needs more investors but if this only influence the market to get controlled by the government regulations, I don't think so. And the possibility that they will take advantage of this.

AFAIK.

The government has their own steps on how they should deal with these DeFis that might be planning a rug pull. In the past, there were ICOs that have been taken down.

And the owners of it have been caught and I'm thinking the same for the DeFi owners that have bad plans.