With the combined crypto market capitalization slumping far below the $1 trillion mark earlier this week, several crypto projects are facing a massive economic downturn in response.
Weighing on the current outlook of the ecosystem, Mark Cuban, an Ethereum maximalist and owner of the Dallas Mavericks basketball team, is backing projects with positive fundamentals in the crypto industry.
In an interview with Fortune, Cuban said events like the one the crypto industry is currently experiencing will expose and crumble companies being sustained by poor market fundamentals.
“In stocks and crypto, you will see companies that were sustained by cheap, easy money—but didn’t have valid business prospects—will disappear,” the Shark Tank investor told Fortune. “Like [Warren] Buffett says, ‘When the tide goes out, you get to see who is swimming naked.’”
Cuban’s assertion is playing out vividly with companies like Celsius currently unable to meet up with its withdrawal obligations when it...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...