Peter Schiff continues to be outspoken in his condemnation of digital assets and those who support them. The well-known cryptocurrency critic recently made fun of billionaire Mark Cuban after stating that he anticipates Bitcoin will drop back to $10,000. This comes after Cuban was the target of a class action lawsuit.
Voyager for financial gain.
Schiff reiterated his belief that proponents of cryptocurrencies are only interested in making money. Most of them, he claimed, don't really believe in the projects. As a result of Mark Cuban's role in promoting the now-insolvent Voyager Digital, the radio host felt compelled to resurrect this claim.
The 59-year-old stock broker continued, making some serious allegations. So, according to Schiff, "he sold out for the money," which surprised him at the time because he had more than enough. According to Peter Schiff, the legal battle against Cuban is just the beginning of difficult times for cryptocurrency proponents. He stated that he believes the Bitcoin bubble would soon explode. In that case, he predicts that those who lost money will sue the promoters who made a profit.
However, some supporters have argued against Schiff's position, asserting that Cuban was likely a second victim. "He is worth many billions. He has spent a lot of work into things that don't benefit him financially, according to Spencer Schiff, who claimed that he wouldn't sell out for money. The Voyager team, according to the Twitter user, probably duped Cuban.
Remember how the Moskowitz Law Firm filed a class action lawsuit against Mark Cuban on August 11? The investors involved in the litigation suffered losses as a result of the Voyager disaster. Cuban was accused of harming investors by promoting Voyager Digital, according to the lawsuit. The complaint claims that Cuban and Voyager CEO Stephen Ehlrich should be held accountable for the losses caused as a result of Voyager's failure.
Withdrawals from customers were halted by Voyager on July 1 due to exposure to 3AC. Shortly after, the cryptocurrency lender filed for bankruptcy, leaving investors in the dark as their losses mounted.
