Billionaire Mark Cuban has increased his investments in one of the decentralized finance (DeFi) projects.
Mark Cuban, the owner of Dallas Mavericks, was caught promoting his digital collection in Rarible from his Ethereum wallet address on his social media account. Cuban staked 450 Aave (AAVE) tokens, according to CoinGecko. In the past seven days, they have made 80% returns and the value of their AAVE tokens has reached $ 128,500.
Cuban currently has 947 Aave tokens in his wallet address and he has staked all of them. This increased the value of their Aave token to $ 460,000.
Cuban also invested in its lending platform. According to Mike Novogratz, CEO of Galaxy Digital, the Aave token could replace JP Morgan and the New York Stock Exchange.
Although Cuban used to be against cryptocurrencies, he announced that he is now investing in cryptocurrencies. Although he has shown interest in Aave so far, DeFi investors stressed that there is a similar risk of collapse to derivatives markets.
“Remember, risk never leaves the system in DeFi markets like derivatives. If one part of it collapses, all projects may run the risk of going bankrupt. “
Just remember WITH DeFi, as with all derivatives, the RISK NEVER LEAVES THE SYSTEM. One segment collapses, they all face risk of collapse. https://t.co/47DsVwIJTF
— Mark Cuban (@mcuban) January 12, 2021
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