In a recent tweet, billionaire Mark Cuban joined a chorus of SEC critics, and former SEC attorney John Reed Stark was criticized by the Shark Tank host for “absolutely no knowledge of crypto.”
On Friday, XRP owners protested the SEC’s lawsuit against Ripple, a distributed ledger technology startup, outside the SEC headquarters in Washington, DC, saying they want the regulator to end its “war on crypto” and the obvious one Former Chairman Jay’s conflict of interest. examines Clayton.
Tag Cuban sayings related to crypto
Cuban says crypto will continue to benefit entrepreneurs more than regulators. Kuban’s transition from skeptic to crypto fanatic was remarkable. For example, in December he stated that bananas were more useful than Bitcoin because they contain potassium, but he has now described a number of crypto uses.
Watch out @cnbc and the guest who used to work at the SEC has absolutely no understanding of crypto. Says there is zero benefit. One certainty is that crypto will continue to have a more positive business impact than the SEC. I am happy to let him know about the applications we are developing
– Mark Cuban (@mcuban) June 3, 2021
He said, “Weather insurance. Transfer. Provenance for digital files. Marketplace efficiency for digital content. Retail banking. Predictive Markets. Non-fractional banking. Structured financial products. Fractionation of Assets. Gaming rewards. Ticket sales soon ”.
Stark stated today that neither Bitcoin nor any other cryptocurrency is of any use. The volatility is amazing, as is the fact that bitcoin and other cryptocurrencies are of no use. The only reason people own it is in the hopes that it will increase in value because someone else will buy it, Stark added.
Cuban isn’t the only one in the crypto world criticizing the SEC. After receiving a $ 20 million fine in his securities fraud case, Tesla CEO Elon Musk had the most public feud with the state regulator, claiming he disregarded them in a “60 Minutes” interview in 2018 .
The XRP Army took significant steps to defy the SEC, from bombarding the agency’s random tweets with hostile remarks to protesting outside their Washington, DC offices.
The Army also recently filed a Change.org request with the SEC, but the government agency simply responded with a preprogrammed response, and with their move to mediate, digital currency holders are trying to embed themselves in the Ripple claims as well.