Billionaire Mark Cuban has toured the cryptocurrency community after the Titan token crash. The cryptocurrency market is a very volatile market, and every market participant, especially long-term investors, is well aware that prices go up as fast as they fall.
However, with the titan cryptocurrency things went a bit too fast, and even billionaire Mark Cuban seemed to have been caught off guard.
The Slingshot price tracking platform captured the movement of the asset, which was trading up to $ 52 before the crash. As of this writing, the asset’s price has fallen to $ 0.00002817.
The “missile crisis” did not pull many zeros out of Cuba’s billion dollar fortune. But it was intense enough, however, to get the billionaire to admit he was frustrated by events. Speaking to Bloomberg, he noted that he was well aware of the risk factors and was perhaps too lazy, implying that he did not do enough research.
Part of his statement to Bloomberg is quoted below:
“As a percentage of my cryptocurrency wallet, it was small. But it was enough that I wasn’t happy with it. But in a larger context, it’s no different from the risks I take in angel investing. In any new industry, there are risks that I take in order not only to try to make money, but also to learn. Even though I got tough on it, it’s really up to me to be lazy.
He also added that DeFi’s structure requires investors to do enough research and pay attention to factors such as income, which he believes to be nonchalant at this time.
“The problem with so-called DeFi decentralized finance is that it’s all about income and math and I was too lazy to do the math to figure out what the key metrics were. “- Marc Cuban
Participation in the events is expected to have caused the cryptocurrency community to reiterate the importance of doing personal research and researching the fundamental qualities that underpin a digital currency before investing. A Bitcoiner reflected the sentiments of many, advising market participants on the importance of sticking to projects that have value.
To tweeter lit :
“Mark Cuban didn’t see value in Cardano, but he found value in a project called TITAN. Another challenge carpet pull that has just got investors reacting. Never invest on the basis of anyone’s posts, even if they are billionaire investors. Always do your own research and don’t be swayed.