Peter Schiff believes Mark Cuban knew Crypto was a “Scam”

Paigambar Mohan Raj
Source: Blogtienao

Crypto critic Peter Schiff has taken a dig at Billionaire investor and crypto proponent Mark Cuban. Schiff took to Twitter and expressed his opinion on the lawsuit that has been filed against Cuban by Voyager Digital creditors.

Schiff says that he had warned the public of how when the crypto bubble bursts, the investors would sue the promotors. In this case, fans of Cuban’s Dallas Mavericks and investors of Voyager Digital claim that the billionaire misrepresented the platform.

Additionally, Schiff believes that Cuban was aware of crypto being a “scam”, but went ahead with the venture anyways. Furthermore, Schiff says that Cuban has enough money, and didn’t think that he’d want more.

The famous crypto critic further said that the only people winning are the lawyers. Prior to Bitcoin’s tumble to $21,000, Schiff forecast that the original cryptocurrency will experience a big decline.

Did Cuban think crypto was a “scam”?

Mark Cuban has been into crypto since around 2017. In a recent interview with Altcoin Daily, Cuban further highlighted his bullishness on the industry. Cuban said that he has always been into tech, and crypto has the potential to disrupt businesses. Moreover, he thinks that Ethereum will be valuable again when the applications start rolling in.

Furthermore, Cuban stated that the current macro environment is concerning, but it does not diminish his bullishness on crypto.

In addition, Voyager Digital is going through one of the company’s darkest phases. The firm filed for chapter 11 bankruptcy after the collapse of Terra.

A “Key Employee Retention Plan” involving $1.9 million was requested by the corporation from a federal judge. Investors are against Voyager giving bonuses to some of its employees, even though the court approved Voyager’s request to return to customers US$270 million held in a custodial account at Metropolitan Commercial Bank. On August 24, 2022, the bankruptcy court will convene a hearing to discuss the motion.