Billionaire investor Mark Cuban is counting losses after a Defi token he traded in came crushing from $60 to zero, according to Business Insider.
- The loss came following panic selling after whale accounts sold their shares.
- The crushed Titan was part of Iron Finance, an algorithmic-stablecoin project.
- The amount Cuban lost wasn’t revealed but the small percentage of his crypto was enough for him to loath the trade.
- Cuban was a cash provider for QuickSwap, a decentralized exchange platform giving 2 different tokens enabling the platform offer swaps between the two tokens.
- Quickswap pays 25% of the swap volume paid by the platform.
- Cuban blamed himself saying he was lazy as he failed to do calculations to ascertain key measures as DeFi is all about revenue and maths.
- Cuban called on regulators to expound a stablecoin and surety that is acceptable.
- Cuban expected an annual ROI of 206% from his initial investment of $75k in the DeFi token