During the course of his interview with CNBC, Cuban pointed out that he believes the social media company’s cryptocurrency idea was a big mistake.
“I’m not a big fan of what they’re doing there. […] I think it’s a big mistake.”
Cuban said he wasn’t really bothered about the effect of Facebook’s Libra in the United States as the country has put in place several regulations to guide crypto operations. He said he was much more bothered about Libra’s global impact, especially in countries where “there isn’t a lot of rule of law, or a lot of government stability, or currency stability, then it could be dangerous.”
He said: “There’s going to be some despot in some African country that gets really upset that they can’t control their currency anymore and…