Billionaire investor Mark Cuban says he lost money after a cryptocurrency fell 100 percent in one day. Cuban had, as recently as Sunday, bragged about making a 206 percent annual return on his investment. The Titan coin then fell from $60 to $0 in a matter of hours. The price was supposed to be pegged to the dollar, as part of a decentralized finance project called Iron Finance.
NTD asked Kent Barton at crypto exchange ShapeShift why the price fell so quickly.
