• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance
Breaking News: Billionaire VC Tim Draper Tells Businesses To Keep Payroll In Bitcoin
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: Billionaire VC Tim Draper Tells Businesses To Keep Payroll In Bitcoin
Mark Cuban
Advertisement

Mark Cuban Reveals His Biggest Crypto Mistake. Here’s How Much He Lost

Best Owie by Best Owie
1 year ago
in Crypto News
0
Advertisement

No one is immune to bad decisions when it comes to crypto investing and Mark Cuban is an example of that. The billionaire recently revealed that he too had made a grave investing mistake that had cost him a lot of money. Cuban opened up to the New York Times in a recent report about how a lack of research had led him to lose a lot of money on a new cryptocurrency.

Mark Cuban Loses $200K

The TITAN token was a decentralized finance (DeFi) token that made waves in the space mid last year. At this time, there was not a lot known about DeFi projects, and investors were pouring cash into the space hoping for quick and high returns. One of the ways investors made money was through providing liquidity for a particular token, which Cuban did. But also investing directly in the tokens themselves.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!

Related Reading | Hollywood Star Gwyneth Paltrow Joins The BAYC

Cuban had pushed the token and had in turn invested in the token. He admitted to the NYT that while he made money as a liquidity provider, he eventually lost out on a lot of money as an investor. An unfortunate situation which he attributed to his lack of proper research. “I made money as a liquidity provider and lost money as a speculator,” Cuban revealed. “I should have done more homework on it.”

Crypto total market cap chart from TradingView.com

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!
Crypto total market cap falls to $1.6 trillion | Source: Crypto Total Market Cap on TradingView.com

He explained that he had become complicit and had failed to do due diligence such as looking at the revenue and doing the math. “The thing about de fi plays like this is that it’s all about revenue and math, and I was too lazy to do the math to determine what the key metrics were,” Cuban told Bloomberg.

In the end, Cuban had lost about $200,000 when the project failed.

Rise And Fall Of TITAN

Rugs pulls are no longer a novel concept and that is exactly what happened with the TITAN project. Rug pulls are a widely spread scam in the DeFi space whereas the creators of a token dump a large portion of the supply on its holders, making off with the proceeds and leaving investors with worthless bags. In its prime, it was one of the hottest DeFi tokens as investors rushed to catch the train of profits that they were witnessing.

Related Reading | Crypto Money Laundering Booms 30% in 2021

With backing from prominent figures like Mark Cuban, the token had grown so much that it hit $60 apiece at one point in time. This would prove to be the beginning of the end as creators of the TITAN cryptocurrency had ‘rugged’ the project not long after.

Cuban had lost a lot of money alongside other investors that were left holding the TITAN tokens. The price had crashed to $0 following panic selling from the investors.

Featured image from Inc. Magazine, chart from TradingView.com
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Best Owie

Best Owie

Related Posts

Silicon Valley Bank

First Citizens Acquires Silicon Valley Bank – Good News For Crypto?

15 mins ago
Titanium Blockchain

Titanium Blockchain CEO Gets 4-Year Jail Sentence For BARs ICO Fraud

2 hours ago
crypto

Self-Proclaimed Crypto ‘King’ Kidnapped And Tortured For Ransom – Details

2 days ago
Dogecoin

Dogecoin: Libdogecoin Update Released For DOGE – But Will It Boost Memecoin’s Price?

2 days ago
crypto

Crypto-friendly Custodia Bank Faces Setback As Fed Denies Application For Supervision

2 days ago
Ripple CTO David Schwartz Calls Out SEC for Lack of Clarity on Crypto Regulations

Ripple CTO David Schwartz Calls Out SEC for Lack of Clarity On Crypto Regulations

3 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
UU.Game
UU.Game
K8
K8

Press Releases

  • Chainlink (LINK) And Cosmos (ATOM) Holders Are Boosting...

    2 hours ago
  • 3 tokens under $5 to skyrocket in 2023, Polygon (MATIC)...

    4 hours ago
  • Avorak ICO Third Phase Brings Better Profit Than XRP Price...

    24 hours ago
  • TMS Network (TMSN) Continues its Successful Presale...

    24 hours ago
  • GLITCH (GLCH) Layer-1 Blockchain Preparing for a Breakout...

    24 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.