Marc Lasry

Billionaire crypto investor and owner of the Dallas Mavericks Mark Cuban says the current market downturn reminds him of a well-known adage uttered by Warren Buffett. Cuban sees a parallel between the rise and fall of crypto markets and projects, and the 91-year-old ‘Oracle of Omaha’s aphorism that:  “Only when the tide goes out do you discover who’s been swimming naked.” Cuban’s observation was revealed during a June 16 interview with Fortune in which he discussed what he sees as flawed business models of some crypto projects that have fallen on hard times over the past two months. “In stocks and crypto, you will see companies that were sustained by cheap, easy money—but didn’t have valid business prospects—will disappear,” the Shark Tank investor said.  “Like ...