Mark Cuban expects to see tougher days for crypto as some of the projects might cease existing.
Investors are increasingly concerned about the spillover effect in case of a potential collapse of the lending platform, Celsius. Weighing on the struggling ecosystem, the “Shark Tank” star argued that more companies built on hype and lack of valid prospects will disappear.with Fortune, Cuban predicted another possible shake-out in not just stocks but also the crypto market. The Dallas Mavericks owner believes many companies would not survive this crash.
“In stocks and crypto, you will see companies that were sustained by cheap, easy money—but didn’t have valid business prospects – will disappear. Like [Warren] Buffett says, ‘When the tide goes out, you get to see who is swimming naked.’”The cryptocurrency market increasingly moving in sync with tech stocks proved costly for investors. The subsequent Terra implosion further fueled the prevailing fears in the crypto space.about a broader contagion.
“If rates go up, it will struggle till it’s priced in. The exception, as with stocks, is for new, game-changing applications.” The crypto industry saw massive job cuts in recent times. Coinbase, Crypto.com, and BlockFi shook things up after announcing lay-offs. On the brighter side, exchanges such as Binance, Kraken, and layer 2 sidechain Polygon are looking to
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