Blockzeit
  • News
    • Business
    • Politics
    • Metaverse
    • NFTs
    • Markets
    • Investing
    • Technology
    • Trends
  • Tools
    • Crypto Charts
    • Crypto Heatmap
  • Education
    • Reviews
    • Guides
    • Bitcoin Price Analysis
  • Crypto Exchanges
No Result
View All Result
  • EnglishEnglish
    • EnglishEnglish
    • DeutschDeutsch
    • PortuguêsPortuguês
Buy Crypto
  • News
    • Business
    • Politics
    • Metaverse
    • NFTs
    • Markets
    • Investing
    • Technology
    • Trends
  • Tools
    • Crypto Charts
    • Crypto Heatmap
  • Education
    • Reviews
    • Guides
    • Bitcoin Price Analysis
  • Crypto Exchanges
No Result
View All Result
Blockzeit
No Result
View All Result
Home Investing
graph 3078540 1280

graph 3078540 1280

Mark Cuban Loses Big Time On Iron Finance: Calls For Regulation

Aaron Moses by Aaron Moses
June 18, 2021
in Investing
Reading Time: 3 mins read
0
Share on FacebookShare on TwitterShare on LinkedinShare via WhatsappShare via Email

It’s tough times in crypto land. And the recent Iron Finance rugpull which happened shows that no one is immune to getting wrecked even Mark Cuban.

According to Cointelegraph, the Billionaire Investor and TV star said:

“There should be regulation to define what a stablecoin is and what collateralization is acceptable. Should we require $1 in U.S. currency for every dollar, or define acceptable collateralization options, like U.S. treasuries.”

Mark Cuban is certainly no noobie to investing. Although he is new to the crypto space, he has made a fortune through investing and his other businesses. And even with all his business smarts he did forsee this event happening. Now, Mark Cuban is calling for regulation.

Titan Token, Iron Finances native token pulled nearly a 30X in price movement in the last 30 days. It then totally crashed and lost a lot of investors huge amounts of money.

As you can see in the chart above, the price went from $60 to near zero in a single day. This is one of the biggest token crashes in crypto in months and it will certainly not be forgotten considering that a big player, Mark Cuban, took a huge loss here.

How could TITAN collapse?

MISSNATOSHI, a popular crypto influencer on Twitter made a post that assessed the situation very clearly. This is what she posted:

Image

Essentially there appeared to be an infinite supply of tokens as whales were arbitraging at an “unreal pace”. And the stablecoin pegged to TITAN kept dropping causing a lot of retail investors and whales alike to panic sell their TITAN tokens. According to Cointelgraph.com:

Whales were able to buy IRON at $0.90 and redeem them for $0.25 TITAN and $0.75 USDC, which temporarily pushed the price of TITAN to around $50. They then proceeded to cash out their profits which sent the price crashing.

There appears to be a lot of dishonesty about the token supply of IRON and how their arbitrage worked. According to experts on SPECTRE, a voice chat from yesterday crypto investing and trading experts agreed that IRON finance was misleading and dishonest in their white paper. They were not clear about the seemingly infinite amount of tokens that could be minted. Once whales began minting tokens at the “unreal pace” seen above, whales dumped at a pace that crashed the price big time.

What This Means

As we’ve said before many times here at Blockzeit, crypto is a totally different game now than what it was a year ago and all years that preceded last year for that matter. There were no billionaires like Mark Cuban making high risk plays. Mark Cuban has a lot of influence in culture and business. His fame and connections will get the ear of lawmakers and politicians if he chooses to do so about crypto regulation.

What will the stable coin regulation that Cuban is calling for mean? Regulation has it’s positives and also it’s drawbacks. There can be good things that come from regulation that can protect retail and institutional investors. However, regulation also comes at a big cost. Once regulation from governments begin, it could change the crypto market entirely, and that won’t necessarily be a good thing.

Aaron Moses
Aaron Moses

Aaron is passionate about blockchain and has been an investor in cryptocurrencies for the past years. He enjoys engaging with other people in the cryptocurrency community online, particularly on Telegram, and learning from experts.

Tags: Iron FinanceMark CubanTitan Token
Previous Post

President Biden Wants To Work With Russia To End Ransomware

Next Post

Michael Saylor Hosts Discussion On Bitcoin Mining Council

Related Posts

Invest 2023

Five Must Have Cryptos in 2023 for Serious Gains

by Vincent Munene
February 2, 2023
0

Are you ready to make some serious gains in the crypto market? The world of cryptocurrency can be a volatile...

Source: BeInCrypto

Maxing in Crypto: The Solid Yet Underrated Investment Strategy for Volatile Markets

by Edmond Herrera
January 31, 2023
0

Maxing is an Investment Strategy that is severely underrated in a market full of huge risk-takers. What makes this classic...

Stablecoins source: Vulcan post

Decentralized Stablecoin Wars: Aave’s GHO and Curve’s crvUSD

by Edmond Herrera
January 30, 2023
0

With the recent failure of certain stablecoins, the conversation on what makes a good stablecoin continues. Let’s take a look...

Load More

Get updates to your inbox!

Subscribe to our mailing list to receive daily updates!

FOLLoW US:

Blockzeit Logo 10 1

Blockzeit was founded in 2021 in Switzerland with the mission of bridging the gap between the complex blockchain technology and the general public. Blockzeit is a news and education platform that aims to make blockchain more accessible and bring more transparency to the scene.

Popular Categories

Categories
  • Bitcoin News
  • Business
  • Education
  • Investing
  • Markets
  • Metaverse
  • NFTs
  • Politics
  • Press Release
  • Switzerland
  • Technology
  • Trends
  • Uncategorized

Important Links

  • Privacy Policy
  • Disclaimer
  • About us
  • Contact us
  • Blockchain Jobs
  • Events

Contact & Social

For guest posts, contact us via info@blockzeit.com

 

Contact: info@blockzeit.com
Press: press@blockzeit.com

Facebook Twitter Linkedin Instagram
  • Home
  • Markets
  • Investing
  • Technology
  • Trends
  • NFTs
  • Education
  • Events
© Copyright by Blockzeit.com. All rights reserved.

Disclaimer

Start making money with crypto.

Buy Here
No Result
View All Result
  • News
    • Business
    • Politics
    • Metaverse
    • NFTs
    • Markets
    • Investing
    • Technology
    • Trends
  • Tools
    • Crypto Charts
    • Crypto Heatmap
  • Education
    • Reviews
    • Guides
    • Bitcoin Price Analysis
  • Crypto Exchanges
  • DeutschDeutsch
  • PortuguêsPortuguês

© 2021 Blockzeit by Blockzeit.