For some reason Mark Cuban is still defending cryptos; even though the digital currencies have suffered their worst crash ever and are not expected to make a comeback any time soon. Meanwhile, Cuban has also had a rapprochement of sorts with the rapper Lil Wayne.
The billionaire owner of the Dallas Mavericks has had a love-hate relationship with cryptocurrencies over the years – he went back and forth from hating them to loving them. Who knows, maybe tomorrow Mark Cuban will hate them again? But for now, he still has faith.
In a Tweet, mark Cuban compared the volatile virtual currencies to the bursting of the dotcom bubble twenty years ago writing, “Crypto is going through the lull that the internet went through.” A lull? If Wall Street right now is going through a bear cycle then the experts need to come up with an animal that sleeps even longer than a hibernating bear to describe the crypto market today. And the crash is happening as stock markets are plummeting and inflations rates are up. Crypto enthusiasts promised people that digital currencies would be a safe haven in times of market storms, yet this has proven not to be the case at all.
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“After the initial surge of exciting apps, NFTs, DeFi, P2E, we saw the imitation phase as chains subsidized the movement of those apps to their chains (ala bandwidth and storage subsidies by startups in the 2000s),” went on to say. Maybe this is because he is worried about his own infant cryptocurrency. And also his Dallas Mavericks have been accepting cryptos in payment. So, the team stands to lose a ton of money depending on how many tickets and other items it sold in exchange for cryptos.
As for Lil Wayne, he was not happy about how the Dallas Mavericks ousted the Phoenix Suns in the NBS playoffs. Wayne is a good friend of Suns’ point guard Chris Paul. During one game of the two team’s playoff round Lil Wayne tweeted some not so nice things about the Mavericks. In response, Mark Cuban tweeted about Lil Wayne, “It’s a shit show, put you front row, “along with a picture of Wayne at the game sitting in the front row courtside.
But now sportswriter Skip Bayless said that the two seem to have kissed and made up. Mark Cuban and Little Wayne were seen sitting next to one another courtside at the Mavericks’ game 2 of the second round of the playoffs against the Sacramento Kings in Sacramento. The Kings won the game. Bayless tweeted, “FYI … Mark Cuban made peace with Lil Wayne, invited him and son Kam to tonight’s game and Wayne obviously accepted. Good for him.”