‘Big Short’ investor Michael Burry warns of losses ‘the size of countries’
Michael Burry, who is best known for shorting the 2007 mortgage bond market, warned retail investors of losses worth “the size of countries” if prices of cryptocurrencies and meme stocks decline. In a series of tweets on June 17, which have since been deleted, Burry cautioned traders about the “mother of all crashes”, Bloomberg reported. Burry does have a habit of deleting his tweets, the report said. Read more here.
Big Story
Billionaire Mark Cuban hit by Iron Titanium coin crash
Billionaire investor Mark Cuban of Shark Tank fame was hit after the cryptocurrency token Iron Titanium crashed to zero dollars following a panic selloff from a high of over $64 within hours. “I got hit like everyone else. Crazy part is I got out, thought they were increasing their TVL enough. Than Bam,” Cuban tweeted. Cuban had revealed his investment in Iron Titanium coins earlier this week in his blog post, displaying his enthusiasm for it and for QuickSwap. Read more here.
In a First
Rapper Raftaar to accept cryptocurrency as performance fees
Rapper Raftaar has become the first Indian artiste to accept cryptocurrency instead of actual currency as performance fee. “I’ve always been an ardent admirer of blockchain technology. I’ve always wondered why artistes and managers alike haven’t explored the potential of this disruptive medium. Nevertheless, I’ve finally taken the baby steps in this direction and all the credit goes to my manager, Ankit Khanna for making this dream a reality for me,” said Raftaar. Read more here.
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