{"id":3232,"date":"2022-06-16T04:31:02","date_gmt":"2022-06-16T04:31:02","guid":{"rendered":"https:\/\/my.symfore.com\/?p=3232"},"modified":"2022-07-02T10:27:43","modified_gmt":"2022-07-02T10:27:43","slug":"ethereum-maximalist-mark","status":"publish","type":"post","link":"https:\/\/www.symfore.com\/index.php\/2022\/06\/16\/ethereum-maximalist-mark\/","title":{"rendered":"Ethereum maximalist Mark"},"content":{"rendered":"<h1 data-test-locator=\"headline\">Ethereum maximalist Mark Cuban says the crypto crash reminds him of Warren Buffett\u2019s advice: \u2018When the tide goes out, you get to see who is swimming naked\u2019<\/h1>\n<p>&nbsp;<\/p>\n<div class=\"caas-body-content\">\n<div class=\"caas-body-inner-wrapper\">\n<div class=\"caas-body-section\">\n<div class=\"caas-content\">\n<div class=\"caas-share-section \">\n<div class=\"caas-share-buttons sticky-flow sticky-active\"><\/div>\n<\/div>\n<div class=\"caas-content-wrapper wafer-sticky wafer-loader-success\" data-wf-sticky-boundary=\"caas-body-section\" data-wf-sticky-offset=\"165px 10px\" data-wf-sticky-target=\".caas-share-buttons\">\n<div>\n<figure class=\"caas-figure caas-cover\">\n<div class=\"caas-figure-with-pb\">\n<div>\n<div class=\"caas-img-container\"><\/div>\n<\/div>\n<\/div>\n<div class=\"caption-wrapper caption-aligned-with-image\">\n<div class=\"caption-wrapper caption-aligned-with-image\"><\/div>\n<\/div><figcaption class=\"caption-collapse\" data-id=\"m-0\"><span class=\"caption-credit\"> Photo by Hector Vivas\/Getty Images<\/span><\/figcaption><\/figure>\n<\/div>\n<div>\n<div class=\"caas-attr\">\n<div class=\"caas-attr-meta\">\n<div class=\"caas-attr-item-author\"><span class=\"caas-author-byline-collapse\" data-id=\"m-0\">Taylor Locke<\/span><\/div>\n<div class=\"caas-attr-time-style\"><time class=\"\" datetime=\"2022-06-15T20:07:50.000Z\">Thu, June 16, 2022 at 1:37 AM<\/time><\/div>\n<\/div>\n<\/div>\n<div class=\"caas-attr-separator\">\n<div class=\"separator\"><\/div>\n<div class=\"separator-ext\"><\/div>\n<\/div>\n<\/div>\n<div class=\"caas-body\">\n<p>The cryptocurrency market is seeing a flash of failed and struggling projects amid a rough downturn that has left investors fearful over what\u2019s to come.<\/p>\n<p>Looking ahead, billionaire Mark Cuban sees extinction.<\/p>\n<p>\u201cIn stocks and crypto, you will see companies that were sustained by cheap, easy money\u2014but didn\u2019t have valid business prospects\u2014will disappear,\u201d the <em>Shark Tank<\/em> investor and Dallas Mavericks owner told <em>Fortune<\/em>. \u201cLike [Warren] Buffett says, \u2018When the tide goes out, you get to see who is swimming naked.\u2019\u201d<\/p>\n<p>After the Terra ecosystem collapsed, with failed algorithmic stablecoin TerraUSD (UST) and cryptocurrency Luna (LUNC) becoming nearly worthless, there has been a ripple effect throughout the space. This week alone, Celsius Network, one of the largest cryptocurrency lending platforms, halted withdrawals and <a class=\"link rapid-noclick-resp\" href=\"https:\/\/fortune.com\/2022\/06\/15\/celsius-black-monday-contagion-liquidations-crypto-market-bankruptcy-restructuring\/\" target=\"_blank\" rel=\"nofollow noopener\" data-ylk=\"slk:sparked fears of bankruptcy\" data-rapid_p=\"6\">sparked fears of bankruptcy<\/a>.<\/p>\n<div class=\"caas-da\">\n<div id=\"defaultINARTICLE\"><\/div>\n<\/div>\n<p>It\u2019s also <a class=\"link rapid-noclick-resp\" href=\"https:\/\/www.theblock.co\/linked\/152092\/after-facing-hundreds-of-millions-of-dollars-in-liquidations-three-arrows-capitals-future-is-uncertain\" target=\"_blank\" rel=\"nofollow noopener\" data-ylk=\"slk:been reported\" data-rapid_p=\"7\">been reported<\/a> that prominent cryptocurrency fund Three Arrows Capital is facing possible insolvency after $400 million in liquidations. The value of the global cryptocurrency market dropped below $1 trillion as Bitcoin, the largest cryptocurrency by market value, fell to $20,193, and Ether, the second largest, to $1,023.<\/p>\n<p>Despite the negative market sentiment, Cuban said he expects innovation to come out of the crypto market downturn as well.<\/p>\n<p>\u201cDisruptive applications and technology released during a bear market, whether stocks or crypto or any business, will always find a market and succeed,\u201d he told <em>Fortune<\/em>.<\/p>\n<p>He says that cryptocurrencies are related to the <a class=\"link rapid-noclick-resp\" href=\"https:\/\/fortune.com\/company\/nasdaq\" target=\"_blank\" rel=\"nofollow noopener\" data-ylk=\"slk:Nasdaq\" data-rapid_p=\"8\">Nasdaq<\/a>, which has <a class=\"link rapid-noclick-resp\" href=\"https:\/\/fortune.com\/2022\/05\/09\/how-low-bitcoin-crash-bear-market-tech-stocks\/\" target=\"_blank\" rel=\"nofollow noopener\" data-ylk=\"slk:proved especially true\" data-rapid_p=\"9\">proved especially true<\/a> in recent months. Tech stocks and Bitcoin, for example, have <a class=\"link rapid-noclick-resp\" href=\"https:\/\/fortune.com\/2022\/05\/06\/bitcoin-isnt-inflation-hedge-gold-bank-of-america\/\" target=\"_blank\" rel=\"nofollow noopener\" data-ylk=\"slk:moved in tandem lately\" data-rapid_p=\"10\">moved in tandem lately<\/a>. The correlation between the Nasdaq 100 and Bitcoin was <a class=\"link rapid-noclick-resp\" href=\"https:\/\/fortune.com\/2022\/05\/06\/bitcoin-isnt-inflation-hedge-gold-bank-of-america\/\" target=\"_blank\" rel=\"nofollow noopener\" data-ylk=\"slk:recently near all-time highs\" data-rapid_p=\"11\">recently near all-time highs<\/a>.<\/p>\n<p>\u201cIf rates go up, it will struggle till it\u2019s priced in,\u201d Cuban said. \u201cThe exception, as with stocks, is for new, game-changing applications.\u201d<\/p>\n<p>Cuban himself is an avid cryptocurrency investor and self-proclaimed Ethereum maximalist. He owns a few cryptocurrencies and non-fungible tokens (NFTs) and has invested in a few blockchain companies.<\/p>\n<p>This story was originally featured on <a class=\"link rapid-noclick-resp\" href=\"https:\/\/fortune.com\/2022\/06\/15\/ethereum-maximalist-mark-cuban-crypto-crash-warren-buffett-advice\/\" target=\"_blank\" rel=\"nofollow noopener\" data-ylk=\"slk:Fortune.com\" data-rapid_p=\"12\">Fortune.com<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum maximalist Mark Cuban says the crypto crash reminds him of Warren Buffett\u2019s advice: \u2018When the tide goes out, you get to see who is swimming naked\u2019 &nbsp; Photo by Hector Vivas\/Getty Images Taylor Locke Thu, June 16, 2022 at 1:37 AM The cryptocurrency market is seeing a flash of failed and struggling projects amid&hellip; <br \/> <a class=\"read-more\" href=\"https:\/\/www.symfore.com\/index.php\/2022\/06\/16\/ethereum-maximalist-mark\/\">Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":2917,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[56],"tags":[],"class_list":["post-3232","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mutual-fund"],"_links":{"self":[{"href":"https:\/\/www.symfore.com\/index.php\/wp-json\/wp\/v2\/posts\/3232","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.symfore.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.symfore.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.symfore.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.symfore.com\/index.php\/wp-json\/wp\/v2\/comments?post=3232"}],"version-history":[{"count":1,"href":"https:\/\/www.symfore.com\/index.php\/wp-json\/wp\/v2\/posts\/3232\/revisions"}],"predecessor-version":[{"id":3233,"href":"https:\/\/www.symfore.com\/index.php\/wp-json\/wp\/v2\/posts\/3232\/revisions\/3233"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.symfore.com\/index.php\/wp-json\/wp\/v2\/media\/2917"}],"wp:attachment":[{"href":"https:\/\/www.symfore.com\/index.php\/wp-json\/wp\/v2\/media?parent=3232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.symfore.com\/index.php\/wp-json\/wp\/v2\/categories?post=3232"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.symfore.com\/index.php\/wp-json\/wp\/v2\/tags?post=3232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}