Cryptocurrency billionaire assures that 99% of digital assets will disappear forever — here’s why

Cryptocurrency investor and billionaire Mark Cuban has stated that 99% of digital assets will disappear forever. Cuban expressed his opinion during a dispute with former US Securities and Exchange Commission (SEC) member John Reed Stark.

According to the billionaire, all US crypto startups face a lack of a regulatory framework, which complicates the development of the digital asset industry in general. Cuban emphasized that not all companies in the cryptocurrency sector that own tokens or plan to use them are large enterprises, as Stark suggested.

Mark Cuban noted that most cryptocurrency companies are small and involve only a few people, so it is difficult for them to deal with regulatory pressure alone. «90% of blockchain companies will go bankrupt. 99% of tokens will depreciate. Just like 99% of early internet companies,» Cuban wrote.

The discussion was triggered by the recent hearings on Binance.US assets — the SEC and Binance agreed that the assets of the American division of the exchange, which the regulator proposed to freeze, would be available only to company employees. The platform has pledged to ensure that none of the officials of the global exchange Binance Holdings will have access to the private keys of wallets and the Binance. US platform.

Mark Cuban called on the SEC not to hinder the activities of crypto platforms, killing the industry, but rather to facilitate the financing and support of crypto startups, ensuring the protection of investors' interests. He also called on Congress to finalize existing regulations to formulate clearer rules for registering blockchain companies and provide viable ways to exchange cryptocurrencies.