Mark Cuban has published a blog post about the potential of the decentralized finance industry. Cuban argued that the US should adopt the restriction rather than continue.
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 big growth tool this country needs.” Cuban’s thoughts came with 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.
“Among these companies, it is already certain that De-Fi and other crypto institutions will be at or near the top of the list. ”
Cuban warns that if politicians choose to continue blocking 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.
“This is not to say that every crypto blockchain or DeFi project will work. The cryptocurrency industry is brutally competitive. But in crypto compared to traditional, centralized businesses, all else being equal I get crypto every time. ”
As for choosing which tokens to invest in, Cuban said he looked 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.
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