Mark Cuban, the billionaire owner of the Dallas Mavericks, said that cryptocurrency is here to stay. He also said that if he were Sam Bankman-Fried, the founder of FTX FTT/USD, he would be afraid of going to jail. What Happened: According to TMZ, Cuban said that he “doesn’t know all the details,” but if he were Bankman-Fried, he would “be afraid of going to jail for a long time.”
Mark Cuban Would ‘Be Afraid Of Going To Jail’ if he were Bankman-Fried: “I Thought He Was A Smart Guy”!
Cuban said, “I talked to the guy and thought he was smart. I had no idea he was going to use other people’s money for himself.” U.S. crypto investors filed a class action lawsuit against Bankman-Fried earlier this month. The suit says that Bankman-Fried, who is 30, and other celebrities used misleading methods.
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According to the lawsuit, FTX’s yield-bearing accounts were illegally sold as unregistered securities in the US, which cost investors $11 billion. Cuban has been a strong supporter of cryptocurrencies, saying that the popular meme coin Dogecoin DOGE/USD +8.91% + Free Alerts was “real money” and the “strongest” way to pay. But in the past few months, he has been in trouble for supporting the now-bankrupt crypto lender Voyager.
Last week, Cuban stopped following a few accounts on Twitter that had to do with cryptocurrencies. This made people worry that he might be losing faith in the industry. Price Action: At the time this article was written, Bitcoin BTC/USD +1.82% + Free Alerts was trading at $16,189, which is 1.56% less than it was 24 hours ago
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