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Mark Cuban “Hit” as Titan Goes from $60 to Under a Penny

Mark Cuban invested in the Titan token, issued by Iron Finance, before the rug was suddenly pulled and it went to near zero. The token went from a daily high of about $40 to under a penny in just a few minutes, marking one of the most disastrous days for a stablecoin.

According to Iron Finance’s website, Titan is a partial-collateralized stablecoin.

Mark Cuban is involved in several decentralized finance projects lately, most as an investor. Titan is just one of many tokens and projects he has publicly invested in. He also has a large NFT collection.

Cuban said on Twitter Thursday morning that he was “hit”, but was also able to get out before the complete collapse.

The collapse happened in a matter of minutes, so some are questioning if Cuban was able to get out at all.

Titan, which is short for IRON Titanium Token, last traded at $0.000007273, which rounds to a loss of 100% on the day. The 24 hour high was $40.28.

We’ll be covering Titan in our newsletter that goes out tomorrow morning. Subscribe here.

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