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Thursday, July 29, 2021

Mark Cuban Invests in Indian Ethereum Startup Platform Polygon

Mark Cuban, billionaire big name investor and capital management tycoon, has made an investment in Indian cryptocurrency platform Polygon.

Polygon’s Twitter posted the news Tuesday afternoon, with Cuban’s portfolio website adding Polygon to the list of held assets. The value of the investment was not listed by either source.

Cuban, owner of the Dallas Mavericks, is well known as being an avid Silicon Valley investor and a large supporter of cryptocurrency. He was largely critical of Elon Musk’s decision to withdraw Bitcoin as a payment method for Tesla.

Polygon is an Ethereum-based blockchain system, designed to help programmers and decentralized finance developers make cryptocurrencies that operate off of Polygon’s network. 

Polygon employs a proof of stake system for the development of new coins, making it a far more energy efficient crypto platform than large proof of work based systems like Bitcoin.

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