Mark Cuban, billionaire investor, seems to be a DeFi bull. The owner of the Dallas Mavericks sold non-fungible tokens (NFTs), citing his Coinbase funds, and now he is dreaming about the advantages of decentralized finance.
Cuban argued for decentralized finance, the suite of blockchain-based apps that exclude any intermediaries from the lending and trading phase, in a tweet thread on the GameStop (ticker: GME) buying spree through stock trading software Robinhood, by pointing out that the business model of Robinhood takes payments that otherwise would go to the consumer in DeFi.
Mark Cuban as a DeFi Bull
For RH Traders that own $GME that money, as best I can tell, is held in street name. Which means that 30% APR goes 100pct to @RobinhoodApp 😬😬😬. Imagine if you pooled your crypto and the platform was getting 30% APY and didnt pay all but fees to you ? What would happen ?
— Mark Cuban (@mcuban) January 29, 2021
Cuban unintentionally “doxxed” his Ethereum (ETH) wallet, exposing a wallet of mainly DeFi ERC-20 tokens.
The revelation came after Cuban posted a clip of himself dancing in a Mavericks costume, adding that it can be purchased on Rarible, a blockchain-based platform for non-fungible tokens, from his account (NFTs).
Users found that he actually has just 0.54 ETH ($694) when the contents of the Cuban Ethereum wallet were released. The lion’s share of his ERC-20 holdings, however, comprises of 450 Staked AAVE (stkAAVE) coins, which suggests that Cubans are staking AAVE on decentralized finance sites worth $126,499.
than old-school buy and hold. Im not saying HODLing stocks is bad. It can be great and have the same impact as HODLing crypto. And the same principals even apply. The number of shares outstanding and their growth is comparable to coins mined (without the algorithmic control).
— Mark Cuban (@mcuban) January 29, 2021
Notably, several Cuban wallet tokens have spiked today. For starters, according to CoinMarketCap, the price of HYVE has unexpectedly hit a new all-time high of approximately $0,078, jumping by up to 60 percent during the day.
Who is Mark Cuban?
Mark Cuban is an American billionaire developer, television host, media owner, and businessman whose net worth is valued at $4.3 billion and listed #177 on the Forbes 400 2020 list.
He is a designated inventor of two utility patents and two ornamental designs.
Cuban has also funded social tech projects and distributed networking businesses. He is the creator of IceRocket, a search engine that searches for material in the blogosphere.
Cuban was a partner of RedSwoosh, an organization that utilizes peer-to-peer technologies to distribute rich media to a user’s PC, including video and apps. He was also a Weblogs, Inc. investor, which was purchased by AOL.
Cuban invested in Brondell Inc. in 2005, a San Francisco start-up that produces a high-tech toilet seat called a Swash that functions as a bidet but is installed on a regular toilet.
He also invested in Goowy Media Inc., a start-up of Internet applications in San Diego. Sirius Satellite Radio reported in April 2006 that Cuban would host his own weekly radio talk show, Radio Maverick’s Mark Cuban
Cuban supplied store-front analytics firm Motionloft with an unspecified amount of investment capital in September 2010. He cold-emailed Cuban on a whim with the business idea, according to company CEO Jon Mills, and said Cuban answered quickly that he would like to know more.
The sentence was attributed to Mills for the company’s launch.
In 2019 Mark Cuban, Ashton Kutcher, and Steve Watts invested a 50% stake in Veldskoen shoes fledgling US businesses.
