TITAN Incident | Mark Cuban Reflects on Being "Chopped" in Investment: "There are gains and losses in investing, it's my fault for not doing my homework"

Even a savvy billionaire like Mark Cuban couldn't avoid the experience of being "rekt" in the crypto market.

Call for Regulation on Stablecoins

Reports indicate that Mark Cuban had previously mentioned being a liquidity provider for TITAN/DAI. Following the collapse of TITAN's price to zero, he stated that he withdrew his funds while Total Value Locked (TVL) continued to rise, but he was still affected.

Nevertheless, Cuban remains confident in DeFi and calls for regulation on stablecoins, including defining stablecoins through regulation and what constitutes acceptable collateral.

Moreover, when faced with doubts about Bitcoin compared to gold, he countered by saying:

Bitcoin is superior to gold, as it does not require storage concerns, is easy to transfer, trade, does not need intermediaries, and can be broken down into smaller units. The biggest challenge for Bitcoin? It's those who believe gold can hedge against inflation.

Its BETTER than gold. No worries about storing it. Easy to transfer. Easy to trade. Easy to convert. Doesn't require an intermediary. Can be fractionalized. Biggest BTC challenge? No William Devane type commercials and all the people who believe gold is an inflation hedge https://t.co/lZWPApMOHq

— Mark Cuban (@mcuban) June 21, 2021