Important statements came from cryptocurrency billionaire Mark Cuban today. According to the billionaire, there are those that will disappear among altcoins. Now, when we hear such an ambitious word, we inevitably wonder which ones they are. Let’s take a look at which ones.
Which cryptocurrencies?
Mark Cuban recently interviewed John Reed Stark, a former Securities and Exchange Commission (SEC) official. https://kryptokoin.comcryptocoin.com When we look at it, the interview was done on Twitter. Cuban states that 90% of blockchain companies will go bankrupt. Of course, this means that cryptocurrencies will also disappear. On the subject, Cuban points to a high rate of 99 percent. According to Cuban’s approach, there will be around 400 cryptocurrencies that will remain in the market. Cuban uses an interesting expression for them. They will be game changers.
Cuban actually has an argument on which to make these assessments. According to him, it is enough to look at early internet companies. Because early period internet companies disappeared from the market over time. It should be noted that the conversation between Cuban and John Reed stemmed from blockchain and regulatory lawsuits. But what really started the conversation was a post from the former SEC official about the Binance/SEC court hearing. United States District Judge Amy Berman Jackson explained that she was trying to reach a settlement without her intervention, both to the leading digital asset service provider and to the regulator. He did not want to directly decide on the SEC’s request for a temporary restraining order, which could lead to the freezing of Binance US assets.
Securities discussions
In response to Stark’s tweet, a cryptocurrency enthusiast identified as @_someone_els suggested that Judge Jackson may not have provided a clear definition of what crypto assets qualify as securities. However, Stark was quick to correct this idea. He also directed that person to a previous tweet he sent. Cuban instantly drew the former SEC official’s attention to the fact that he may have misread the impact of what Judge Jackson said.
Cuban started his argument by first stating that not all crypto businesses that own or are considering using tokens are big businesses. Unfortunately, according to Cuban’s testimony, there is a general assumption that they all are. It looks at the SEC’s response when a small company applies to the SEC for clarification and guidance on registration. The response from the SEC is really interesting. The SEC’s response was “Here are some cases you should investigate. Hire a lawyer to assist you.” shaped. Finally, the clearest expression of the differences of opinion between Cuban and Stark was over blockchain and traditional databases. According to Stark, blockchain will not gain the upper hand. However, Cuban thinks Blockchain will prevail over traditional markets. Dogecoin advocate Cuban concludes, “I think most of your criticisms of crypto are very valid. However, they do not override the impact the industry can have on the economy.” made the emphasis.
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