The latest hoopla in the crypto defi space is the TITAN rug pull, that TITAN is denying is a rug pull and calling it a "bank run."
Regardless of how its spun, people lost $$$ and Mark Cuban was one of them.
According to the decrypt article:
Cuban was one of those liquidity providers on QuickSwap, a decentralized exchange. He announced his involvement on June 13, tweeting: "Crypto Businesses make more sense than you think and valuing tokens is easier and makes more sense than you think."
Someone to blame....
When it comes to losing money, people always want someone to blame and apparently some folks to a shot at suggestion he was in on it:
Have to give that twitter gentleman credit, at least he got Cuban's attention.
Iron Finance
For those that are not familiar with Iron Finance:
Iron Finance is (or a I guess was) a DeFi project that issues a partially collateralized algorithmic stablecoin called IRON.
TITAN is the governance token that backed IRON. This is the coin that dropped to basically zero due to the rug pull or "bank run"
The Iron Finance team did announce yesterday that all users should pull liquidity, this likely added to the rush to the exits.
To read the full article referencing Mark Cuban and Iron Finance use the below link:
https://decrypt.co/73810/mark-cuban-hit-apparent-defi-rug-pull
In conclusion...
This is why I love the house of Cubdefi.com. Their floors don't have rugs. Wood plank only :-)