The Wave of Capitulation Has Mark Cuban Distancing Himself From Crypto Companies

It was noticed that Mark Cuban had started unfollowing a lot of well-known crypto Twitter accounts on November 21.

The Dallas Mavericks owner has stopped communicating with a number of accounts, including Nansen, Uniswap, Solana, The Block, DeFi Pulse, Dapper Labs, and MetaMask.

Support for Elon Musk’s takeover of Twitter and following activities has dominated his most recent tweets. There were also some tweets about drugs, but there were none about cryptocurrencies for at least a week.

The entrepreneur has also invested the previous two years on expanding his portfolio of cryptocurrency businesses. On his website, a blockchain category, there are 28 crypto businesses and projects listed.

Nifty’s, KlimaDAO, Mintable, DeFi Alliance, OpenSea, CryptoSlam, Zapper, Polygon, and Arbitrum are a few of the most well-known ones.

Despite having made millions of dollars in cryptocurrency firms, Cuban seems to have changed his mind on the asset class. He described cryptocurrency as “sort of boring” in September. He compared it to the inactive early years of the internet. When he made this statement, Cuban said, “It’s all boring, right? because nothing new has been observed.

However, Mark Cuban is still interested in nonfungible tokens (NFTs). In order to appeal to his team’s supporters, he also wants to use digital assets.

Additionally, the multibillionaire has been connected to the now-defunct Voyager Digital platform. Perhaps as a result of that and the lawsuit that followed, he has recently made an effort to disassociate himself from cryptocurrency.

On November 11, he attacked Sam Bankman-Fried in a speech, saying, “He’s just ‘Gimme more, gimme more,'”

On November 14, Cuban claimed that one of the reasons he bought cryptocurrency was the potential use and usefulness of smart contracts.

Ben Armstrong, often known as “BitBoy,” and Kevin O’Leary, another Shark Tank co-star, have gotten into a fight.

O’Leary’s remarks about SBF, which BitBoy believes were made under duress, are what sparked the Twitter spat. He revealed O’Leary as well, who allegedly encouraged WonderFi to acquire the Canadian cryptocurrency exchange Coinberry.

The ongoing Twitter storm did not contribute anything innovative or beneficial to the already damaged crypto economy.