Mark Cuban published a blog post about the potential of the decentralized financial industry. Cuban argued that the United States should embrace it rather than continue with the restriction.
Billionaire investor and NBA owner of the Dallas Mavericks, Mark Cuban, said yesterday that the US government and regulators should start supporting cryptocurrency innovations like the decentralized finance (DeFi) industry. Otherwise, he argued, the United States would “lose the next major growth tool this country needs.” These thoughts by Cuban came in a blog post titled “The Brilliance of Yield Farming, Providing Liquidity and Valuing Cryptocurrency Projects”.
At the end of the post, Cuban discussed the broader potential of the DeFi industry. He noted that DeFi projects are decentralized in nature and are not located in the US. Cuban predicted that in 10 to 20 years, we would look back at this time period and observe companies being formed that changed the world.
Cuban warned that if politicians choose to continue to thwart innovation, it could hamper growth potential.
Investing in DeFi Projects
Cuban also delved deeper into his latest thoughts on DeFi, focusing specifically on specific projects he has invested in, including Ethereum scaling solution Polygon and lending protocol Aave.
Cuban said the main difference between traditional businesses and decentralized businesses is that DeFi firms don’t need to raise a lot of money in the beginning or focus on maximizing profits.
As for choosing which tokens to invest in, Cuban said he looks at factors such as current revenue, growth rates, how long the projects will maintain their competitive advantage, and the strength of the community behind the project.
Hello there! My name is Oktay from Tokensboss editors. I introduce myself as a business graduate and writer. I have been doing research on cryptocurrencies and new business lines for over 2 years.