From "bananas" to the sale of 80% of bitcoin, Mark Kuban and encrypted hate

Original by ChandlerZ, Foresight News

On May 21, billionaire entrepreneurs, the former NBA Dallas Monarch owner, Mark Cuban, stated in a Front Office Reports podcast that he had sold most of the bitcoin warehouses because he believed that bitcoin had failed to effectively counter the risks of weakening the dollar and geopolitical instability, especially during the recent Iranian conflict. “When the war in Iran triggered this mess, bitcoin was always seen as the best alternative to the devaluation of the French currency, and I have always believed that it was better than gold. However, gold prices soared that bitcoin fell. And every time the dollar depreciates, bitcoin should have risen, but it did not.”

"I think Bitcoin has lost the plot."

2019: Bananas are better than TTs

Mark Cuban's open attitude to encryption starts with doubt. In September 2019, he said in a video question and answer to Wired magazine, "I'd rather have bananas than TTcos because I could at least eat them. This is what I'm talking about. At the time, he compared bitcoin to baseball cards, comic books and works of art, saying it had no intrinsic value, and stressed that encryption was too complicated for 99% of people。

In fact, he had already entered the field earlier, in October 2017, when Mark Kuban, in an interview with Bloomberg, did admit that he had purchased bitcoin as an "uninterested" portfolio, but he stressed that he had a very small warehouse and treated it as a speculative gamble similar to a collection of baseball cards or works of art。

2021: Transfer from banana pie to 60% bet bitcoin

The shift took place in Cow City in 2021, when Mark Kuban became one of the most active encrypted spokespersons。

At the end of January, he forged the personal series The RollUp 2021 on the NFT platform Rarible, and issued a map of himself dancing in a solo jersey。

In March 2021, the Dallas Solo became the first NBA team to accept Dogecoin's ticket and the surroundings, and Mark Kuban explained that "because we can do this, this will bring a lot of PR." First Month Solo sold around $122,000, and then two months later, DOGE went up to a historical high of $ 0.7375。

In the same year he disclosed the encryption configuration on The Delphi Podcast, "about 60% bitcoin, 30%Etherleaf, 10%Other." “I never sold bitcoin.” The reason he gave was that bitcoin supply was fixed, decentrized, a better store of value than gold。

June 2021: Educated by Iron Finance

Top of Bullstown, Mark Kuban was given a lesson by DeFi。

In June 2021, he published a long post in his personal blog, The Brillian of Yield Farming, Liquidity Production and Valuing Crypto Projects, publicly applauding the Alcohol stabilization project on the Polygon chain, Iron Finance, and described himself as the main liquidity provider for DAI/TITAN transactions, with an initial investment of $75,000. A few days later, TITAN fell from close to $60 to close to zero in 24 hours, and the overall agreement evaporated about $2 billion。

IRON Finance analysis reports that it was initiated by some of the whale addresses that began to sell, causing panic among users, causing a large amount of IRON to be redeemed, selling TITAN, and by 10 minutes of TWAP predictive machine operations, that TITAN's spot price fell further than TWAP's redeeming price, creating a vicious circle in which more IRON than the user's redeeming price, more TITAN was created and its prices were falling, and eventually TITAN fell almost to zero, and that IRON Finance suspended the contract for USDC。

After the incident, Mark Kuban did not disclose the exact amount of the loss, but only said in Bloomberg's e-mail that "the amount of the investment was not so large as to require every detail to be checked" and said that he had a smaller share of its encryption hold. "I was beaten like everyone else. Ironically, I took some of them off, thought their locks were still rising, and then banged... and said I was lazy. This deFi game is essentially about income and mathematics, and I didn't figure out the key indicators."

Between 2022 and 2025: and regulatory vexation, the prosecution was successful

After the switch, Mark Kuban's encrypted life moved from buying money to litigation and supervision。

Voyager Digital, an encrypted voucher dealer, brought Mark Kuban and the solo to court after bankruptcy in 2022, accusing him of working with the team to sell the Ponzi scheme to an inexperienced young man. Mark Kuban repeatedly criticized the previous SEC chairman, Gary Gensler, in public, for forcing him to come and talk, so why not give clear rules first。

On December 30, 2025, a class action against Mark Kuban and the Dallas Bulls for the use of encrypted currency by promoting Voyager Digital to deceive investors was dismissed. The action was that Kuban had falsely publicized the company several times before Voyager applied for insolvency protection in 2022. In a statement, Cuban and his legal team Brown Rudnick stated that "the action was based on multiple state securities laws and consumer fraud legislation. On 30 December, Roy K. Altman, a judge of the United States Federal District Court for the Southern District of Florida, dismissed the case in full”

In 2025, the billionaire also considered launching his own Memecoin, but eventually did not land. In his most recent comment on encrypted currency, he said that disappointment with encrypted currency stemmed from NFT and Ethera, although that disappointment was not as negative as his anti-TT currency status。

One person, seven years, three reverses

Since the beginning of the American-Iranian conflict in February 2026, bitcoin has increased by about 16 per cent, while gold has fallen by about 15 per cent and increased by about 9 per cent in the fare. Mark Cuban saw the moment the war escalated, the window lengthened, and bitcoin actually won the gold. This does not negate his disappointment, but simply demonstrates that his judgement this time remains an emotional decision that relies heavily on the window of time。

Mark Kuban's seven-year walk of arc is almost the standard template for the past round of dispersed households from suspicion to fanaticism to despair. The next time he changed his mind, most would still be triggered by parallel macroeconomic narratives and price movements。