Mark Cuban calls for stablecoin regulation, after trading Iron Finance's algorithmic stablecoin DeFi Titanium, which then crashed from $60 to $0 in a day
H — ow Polygon's first billion-dollar protocol unraveled. AnTy / BitcoinExchangeGuide : “This One is on Mark Cuban,” says CT as He Calls for DeFi Regulation After Getting Rug Pulled on His Promoted Project Source Code / Protocol : How to be a space tourist Sead Fadilpašić / Cryptonews : ‘Crypto Bank Run’ Shows Mark Cuban That DYOR Comes Before Regulation Brian Quarmby / Cointelegraph : Nifty News: Hot Wheels, NBA game ticket NFTs and Crypto.com invests in eBay for NFTs Benson Toti / Coin Journal : Billionaire Mark Cuban Says He Got ‘Hit’ After 100% TITAN Token Price Washout Kevin Helms / Bitcoin News : Mark Cuban Hit by Iron Finance Token Crash, Calls for Defi Regulation David Z. Morris / CoinDesk : Paying the IRON Price: Fractional Reserve Banking on a Blockchain Hannah Miller / The Information : Sports NFTs Are No Slam Dunk Thomas Claburn / The Register : TITAN crypto-token does the opposite of zero to $60: Value plummets in hours Tony Zerucha / Crowdfund Insider : Iron Finance Meltdown as Crypto “Bank Run” Destroys TITAN Value, Mark Cuban Among the Affected Will Gottsegen / Decrypt : Mark Cuban Calls for DeFi Regulation After Crypto Investment Goes to Zero Kevin Reynolds / CoinDesk : Iron Finance Says It Suffered Crypto's ‘First Large-Scale Bank Run’ in Token Crash Postmortem Jonathan Ponciano / Forbes : Mark Cuban ‘Hit’ After Cryptocurrency Crashed 100% In One Day—And These Other Buzzy Tokens Have Also Collapsed Patrick Thompson / CoinGeek : Mark Cuban endorsed token ‘TITAN’ plummets 100% Vishal Chawla / Crypto Briefing : Iron Finance Denies Rug Pull After Token Collapse Ed Browne / Newsweek : Mark Cuban ‘Hit’ by Titan Crypto Crash As Coin's Price Falls to Near Zero Ana Grabundzija / CryptoSlate : TITAN falls nearly 100% in latest Polygon DeFi exploit Tweets: Joe Weisenthal / @thestalwart : BREAKING: Mark Cuban calls for more stablecoin regulation after trading DeFi token that crashed to zero https://www.bloomberg.com/... $TITAN @frances_coppola : Seems TITAN has just re-enacted the Weimar hyperinflation. https://www.coindesk.com/... Preston Byrne / @prestonjbyrne : .@mcuban this stuff is already regulated, that coin is more likely than not an unregistered security, you should have known it, and you bought it anyway. Don't call for more regulation just because your crypto investment team doesn't know what they're doing. This one is on you. https://twitter.com/... JC Oviedo / @jcoviedo6 : “In the beginning, users were receiving an incredible 2%-5% annual percentage rate per day. When the dust settled, TITAN was near zero and IRON was last seen trading way off peg, around $0.69.” Don't chase yields in crypto.... https://twitter.com/... Tai Zen / @heytaizen : Typical amateur crypto investor. Too lazy to do any due diligence. Dazzled by high DeFi ROI %. Loses money. Claims we need more regulation in crypto! Just because someone is a billionaire in tech does not mean they understand crypto guys so be careful who you listen to guys! https://twitter.com/... @coindesk : Iron Titanium token, the share token of the multibillion-dollar decentralized finance protocol @IronFinance, has fallen to near zero. @sebsinclair1989 reports https://www.coindesk.com/... Omar Bham / @crypt0snews : Marc Cuban doesn't want to do math, or research on Titan, and now wants more regulation after feeling some pain. Sounds like every other weak n00b crying for regulations, and hurling lawsuits, only when things don't go their naive route. Let DeFi regulate itself, kthx https://twitter.com/... Guy Swann / @theguyswann : Wow. So @mcuban invests in some peak Shitcoin garbage, obviously without any understanding or research, gets demolished on the rug pull, & instead of taking responsibility for a dumb decision... it's because of a lack of regulation. How many Bitcoiners warned you? How many? https://twitter.com/... https://twitter.com/... @algodtrading : https://www.coindesk.com/... This article is nonsense, as you see they clearly stated max supply was 1bn. To make it clear, there was a bug/exploit. https://twitter.com/... Felix Salmon / @felixsalmon : “It was a crypto vortex of money,” said Schebesta. https://www.coindesk.com/... Erik Voorhees / @erikvoorhees : Stablecoins didn't need regulation before Mark got rugged. Stablecoins don't need regulation after Mark got rugged. And @mcuban please remember what the “de” in “defi” means, now that you are involved in it. https://twitter.com/... @lucaland97 : Tether has too many eyes on them lately. https://twitter.com/... Matt O'Brien / @obsoletedogma : Stablecoins, which are supposed to be backed by assets but often aren't, are a lot like fractional reserve banking. Crytpo is now learning what can happen when there's a run on a bank and there's no deposit insurance. Crypto is a not-so-free lesson in finance for libertarians. https://twitter.com/... BowTiedBull.eth / @bowtiedbull : Even billionaires get the rug! https://www.bloomberg.com/... Dare Obasanjo / @carnage4life : The world of crypto and DeFi have given us new opportunities to make money for silly reasons (see dogecoin) and also to lose money in similar ways. $272M cannot be recovered from a smart contract because of a code bug where > instead of >= was used. 😬 https://irony-97882.medium.com/ ... @coindesk : A near-total collapse in the price of a share token of a DeFi protocol was called “the world's first large-scale crypto bank run” and left Mark Cuban calling for regulators to determine what constitutes a “stablecoin.” by @KReyofCoinDesk https://www.coindesk.com/... Kontra / @counternotions : Is a call for centralized regulation the last refuge of crypto scoundrels? https://www.bloomberg.com/... Kontra / @counternotions : Yesterday: $65 Today: ~$0.000000035 (Democratizing partially collateralized token stability.) https://www.coindesk.com/... @pinboard : My favorite is this screenshot of an exchange saying you can't get your money back, but it's cool because it's not a hack and they're going to write a “post-morterm”. Someone would go to jail for every sentence of this post in the real economy, but crypto is the future. https://twitter.com/... @pinboard : Can't recommend this post highly enough for fans of cryptoabsurdity. Smart contracts locking out $232M because of a missing character, “stablecoins” that are neither, someone meekly asking on Reddit whether 30,000% annualized returns are sustainable. https://irony-97882.medium.com/ ... Hamza Shaban / @hshaban : “Even though I got rugged on this, it's really on me for being lazy” ... “There should be regulation to define what a stable coin is and what collateralization is acceptable” https://twitter.com/...