Billionaire investor Mark Cuban is doubling down on his bet on a top decentralized finance (DeFi) project.
The Dallas Mavericks owner and Shark Tank star’s Ethereum wallet address was revealed last week after he promoted a digital collectible listed on the non-fungible token (NFT) marketplace Rarible via his social media account.
The wallet revealed Cuban had 450 staked Aave (AAVE), a decentralized lending platform that’s surged nearly 200% in value the past two weeks, according to CoinGecko. Cuban’s initial 450 Aave purchase was worth roughly $128,500.
Cuban’s wallet address now shows he owns more than 947 Aave, all of which are staked. That haul is worth more than $460,000 at time of writing.
Cuban is not the only high-profile investor to show some interest in the lending platform. In a recent interview, Mike Novogratz, the CEO of crypto investment firm Galaxy Digital, said Aave was one of a handful DeFi assets that he believes could “blow up the world” and replace JP Morgan and the New York Stock Exchange in the future. Read More