Billionaire Mark Cuban told Fortune that he would not invest money in Luna 2.0 and prematurely dismissed the uninitiated project. He also commented on other altcoin projects. Here are the details…
Mark Cuban does not invest in these altcoin projects.
Billionaire name Mark Cuban said in his new statements that he avoided various altcoin projects. He stated that he will not invest in Terra 2.0. Prior to that, Cuban confirmed that he has not invested in either LUNA or the UST stablecoin. The billionaire is also not investing in the failed Anchor (ANC) protocol, which is one of the key parts of the Terra ecosystem.
It’s understandable why Cuban doesn’t want to touch anything related to algorithmic stablecoins. Last year, the “Shark Tank” host introduced Iron Finance, a decentralized finance project, albeit on a much smaller scale, that suffered a Terra-like crash in June. However, as we reported on Kriptokoin.com, the price of the TITAN token dropped to zero, while the IRON stablecoin lost its stable value.
Recent developments in the Terra ecosystem: New network is coming
After Terra crashed in early May, the community decided to give the project another chance and overwhelmingly voted to launch a new version of the failed Blockchain. . Major exchanges, including Binance, have announced that they will support the airdrop of LUNA. Activation of the mainnet version of Terra 2.0 is scheduled for this Friday. Thirty percent of the tokens will be issued immediately after the genesis block. The remainder of the Airdrop will be distributed over the next two years. However, many doubt that Terra can be reborn from the ashes.
As reported, Dogecoin co-founder Billy Markus harshly criticized the failed Blockchain revival attempt, predicting it would attract “stupid gamblers.” BitGo CEO Mike Belshe questioned whether Terra 2.0 could outperform the project’s first. Meanwhile, the community that has been supporting token burning for some time seems to have finally gotten what it wanted. According to the management vote, the overwhelming majority of voters want a certain amount of tokens to be burned. Time will tell how this development will affect the market and tokens.
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