Mark Cuban, owner of the NBA Dallas Mavericks, said Saturday that he doesn’t give up on crypto because of the collapse in crypto exchange FTX. He believes that FTX’s former CEO Sam Bankman Fried will be sentenced, but that the crypto industry still holds a lot of value. Mark Cuban began unfollowing many crypto Twitter accounts on Monday. Some believe he is trying to distance himself from crypto.
Mark Cuban isn’t giving up on crypto
Although investors and crypto companies have been affected by the collapse of FTX, billionaire Mark Cuban still believes that crypto is worth investing in. Mark Cuban believes that there is still a lot to be gained from crypto despite the collapse in FTX, reported TMZ Sports.
Cuban stated, “Separate signal from noise.” “There have been many people making mistakes, but that doesn’t change the fundamental value.”
He believes in cryptocurrency and is confident about the future of the industry, despite the difficulties. Mark Cuban doesn’t see the cryptocurrency going bust, as long as there are viable options for consumers in the crypto world.
Cuban believes that Sam Bankman-Fried is headed for jail. He was the former CEO of FTX. Although he believed Sam Bankman Fried was a wise man, he never imagined that he would misuse customers’ funds for his own purposes.
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Cuban stated that he didn’t know all details but would be afraid to go to jail for a long period of time if he did. I spoke to the man and thought he was smart.
Cuban answered questions about Elon Musk’s impact on Twitter and stated that Elon Musk has made a significant improvement in user experience since acquiring Twitter.

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Mark Cuban began unfollowing prominent crypto Twitter accounts on Monday, including Nansen and Uniswap, Solana and DeFi Pulse. Rumours began to circulate that Cuban was leaving the crypto space following the collapse of FTX. Cuban has invested in many crypto projects, including KlimaDAO and DeFi Alliance, OpenSea CryptoSlam.
Crypto Market Recovers Gradually
As industry leaders encourage confidence in investors, the crypto market slowly recovers from the FTX contagion.
Bitcoin and Ethereum have both recovered with their current prices holding at $16.5k and $1.2k respectively. Altcoins like Dogecoin and XRP, BNB and others saw a nearly 5% increase in the past 24 hours.
Also read: Binance CEO CZ reveals Wallet Transparency To Answer Jab’s “Proof of Reserve” Jab

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