"Does that mean only 1% are safe? This doesn't make sense but is it possible that it will happen?"
During a conversation with former United States (US) Securities and Exchange Commission (SEC) official John Reed Stark on Twitter, famous investor Mark Cuban predicted that 90% of blockchain companies and 99% of tokens will fail.
However, he truly believes that those who can survive the various obstacles after joining the crypto market will be "game changers" in today's growing technology.
The conversation between Stark and Cuban began after the former SEC official shared a post regarding Binance's court hearing that was recently sued by the SEC.
According to US District Judge Amy Berman Jackson, Binance and the regulator should try to find a mutual solution without her intervention after it did not want to directly rule on the SEC's motion for a restraining order.
In response to Stark's tweet, cryptocurrency enthusiast @_someone_els said that Judge Jackson may not be able to determine which cryptocurrencies qualify as securities.
Cuban also began his argument by claiming that not all crypto businesses that have tokens are large enterprises as there are small companies contacting the SEC for clarification and guidance in registration.
While Stark states that blockchain cannot beat traditional databases, Cuban insists that technology is always changing over time, so anyone will recover from their fall due to blockchain.
