love him or hate him Mark Cuban still believes in crypto even after the FTX collapse. The implosion of one of the world's largest cryptocurrency exchanges has left many investors shaken, broke and upset. However, this billionaire still believes in crypto.
Reports show that Cuban has remained invested in crypto throughout this turmoil. It's said his conviction in the space is around his beliefs in smart contracts, and the underlying technologies behind crypto. I agree with Mark that the technologies behind crypto are being over looked. Right now there is a lot of scrutiny over exchanges and their misdeeds. Crypto was never ab out centralized exchanges or technologies so maybe these events needed to happen to reform the industry to what it should have always been. Crypto is about the tech and the ways it can transform legacy systems which are inherently inefficient. Just look at smart contracts which I believe will have a significant impact in creating valuable applications that have utility for everyone. The value is derived from utility and how useful the tech or tokens are for users. When the tech evolves to make tasks easier so people both within and outside of the crypto world benefit true adoption will take place.
Sam Bankman-Fried and FTX has done damage to markets short term, but if we continue to develop the tech and works towards decentralization these events will be less likely to happen. Sam was greedy and like many others were allowed to operate without oversight or the knowledge how to handle their business. What we have seen is not a failure of crypto it is a failure of men and I think people like Mark see through that and know we have a bright future after the storm passes.