Mark Cuban, the billionaire owner of the Dallas Mavericks, believes that cryptocurrencies are not going anywhere, but suggested that Sam Bankman-Fried, the disgraced FTX founder, might be heading to a correctional facility.
I don't know all the details but if I were him, I d be afraid of going to jail for a long time, Cuban told TMZ. I talked to the guy and thought he was smart. I had no idea that he was going to take other people's money and put it to his personal use. How smart money is playing the game of criptocurrency.
Cuban has been a strong proponent of cryptocurrencies, in the past claiming that Doge coin was real money and the strongest medium of exchange. He has caused controversy in recent months for his role promoting the now bankrupt criptocurrency Voyager.
The class-action lawsuit says that the company's founders, Stephen Ehrlich, and Cuban and Voyager earn program accounts, which are unregistered securities, went to great lengths to use their experience as investors to dupe millions of Americans into investing their life savings in the deceptive Voyager platform and purchasing Voyager earn program accounts, which are unregistered. Over 3.5 million Americans have lost $5 billion in cryptocurrencies assets. Cuban, who is an ether maximalist, doubled down on his belief that the FTX collapse will not be a death knell for the industry. Cuban said that they separated the signal from the noise.