Benzinga - Mark Cuban, the billionaire owner of the Dallas Mavericks said crypto is here to stay but added that had he been FTX (CRYPTO: FTT) founder Sam Bankman-Fried, he would be afraid of going to jail.
What Happened: Cuban said while he “isn’t aware of all the details," if he were Bankman-Fried, he'd "be afraid of going to jail for a long time," according to TMZ.
"I talked to the guy and thought he was smart," said Cuban, adding, "I had no idea he was going to take other people's money and put it to his personal use."
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Earlier this month, a class action suit was filed against Bankman-Fried by U.S. crypto investors, alleging that the 30-year-old and other celebrities engaged in deceptive practices. According to the suit, FTX's yield-bearing accounts were allegedly unregistered securities that were illegally sold in the US causing investors $11 billion in damages.
Cuban has been a fervent crypto advocate, asserting that the popular meme coin Dogecoin (CRYPTO: DOGE) was "real money" and the "strongest" form of payment. However, in recent months, he has been the subject of controversy for his advocacy of now-bankrupt crypto lender Voyager.
Last week, Cuban unfollowed several cryptocurrency-related accounts on Twitter, triggering fears that he might be losing faith in the sector.
Price Action: At the time of writing, Bitcoin (CRYPTO: BTC) was trading at $16,189, down 1.56% in the last 24 hours, according to Benzinga Pro.
Photo: Courtesy of Wikimedia Commons
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