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28 March 2024
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Shark Tank Shark Talks About Decentralized Finance: It’s Brilliant


Billionaire Mark Cuban used his personal blog last Sunday (13) to defend the potential of decentralized finance (DeFi). In his article, the owner of the Dallas Mavericks said the DeFi branch is “brilliant”.

In addition, the businessman presented and shared his experiences with decentralized projects. Polygon and Aave were cited by the ancient critic of cryptocurrencies.

DeFi Industry Potential

The Shark Tank member has once again demonstrated his interest in the cryptocurrency market. However, this time, Cuban’s attention turned entirely to the DeFi system.

For the tycoon, the US regulatory bodies need to change their posture towards digital currencies. Otherwise, the US “will miss the next big engine of growth the country needs.”

Cuban takes the opportunity to emphasize the resources of decentralized finance, such as not depending on traditional banks. In his argument, the businessman says that the financial system has strong growth potential and commented on the competitive environment.

“It doesn’t mean that every blockchain or DeFi project will work. (…) Cryptocurrencies are extremely competitive, but between centralized and decentralized businesses, I always bet on cryptocurrencies.”

Predicting the future?

Cuban even predicted that 10 or 20 years from now, the market will have several companies built by the DeFi system. However, he warns that politicians can curb the growth of this industry, wasting this financial potential.

As for the current scenario, the businessman criticizes the US regulators. For the tycoon, regulators are pushing the country out of the race for innovation.

“This is not just because of the ethos of the Decentralized Autonomous Organizations (DAOS) but also because of the stupidity of our regulators.”

Projects in DeFi

Cuban also took the opportunity to present the DeFi projects he invested in, including Aave and Polygon. While the first is a loan protocol, the other is a smart contracts tool on the Ethereum network.

Commenting on the advantages of smart contracts, the billionaire says that “this approach is the future of personal banking.”

Also read: Bitcoin breaks $40K after 2 weeks of trying

Also read: Paul Tudor Jones: I want 5% Bitcoin to protect myself

Also Read: Cheap Token Could Soar 40% Soon, Trader Reveals

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