Libra Is Dangerous And Only In Favor Of African Despots: Mark Cuban

Libra is dangerous and will only spike evil African despots, at least this what Mark Cuban stated in an interview with CNBC which we are reading more about in the latest cryptocurrency news.

Cuban stated:

 “I’m not a big fan of what they’re doing there. I think it’s a big mistake […] but it’s only in the talking stage so we’ll see what happens.”

Mark Cuban and the President of the United States Donald Trump had a big fight over politics. They reached the same conclusion about Libra which is that it is an unfortunate crypto project. The tech entrepreneur and Dallas Mavericks owner Mark Cuban joined the skeptics’ side of the spectrum and warned about the apocalyptic dangers of the Libra crypto project. Trump also bashed the Libra project along with other cryptocurrencies saying that they are a competition to the US dollar since he called the dollar as the most ‘’ dependable and reliable currency.’’ Cuban shares these concerns and even stated:

“I think globally and in countries where there isn’t a lot of rule of law, or a lot of government stability, or currency stability, then it could be dangerous […] There’s going to be some despot in some African country that gets really upset that they can’t control their currency anymore and that’s where the real problems start occurring,”

In the early days, Bitcoin developed a bad reputation due to the Silk Road scam. Over time, however, regulated exchanges such as Coinbase have cooperated with law enforcement which made it easier for the government to monitor illicit activity. However, Facebook claims that there will be safeguarding from criminals but they never specified how this will actually work.

There is no doubt that Libra is dangerous and is a major concern for Cuban’s skepticism towards Libra. He has been inconsistent and even compared crypto to pet rocks. As noted in the coming altcoin news, Cuban is backing up a fintech startup called Dave. It recently launched the Dave banking app will help the users with their banking issues and will help users build credit scores simply from paying their rent on time.