Libra is under attack from a big name in the tech world, again. Mark Cuban, the billionaire owner of the Dallas Mavericks and recurring Shark Tank guest, has already called Facebook’s new digital currency “dangerous” and “a big mistake.” Now he’s doubling down on that prediction, suggesting that it could be even worse than he previously imagined.
He goes on to say that launching the currency in North America or Western Europe would be acceptable. “Fine, go for it. Let’s see what happens,” Mark Cuban said. It’s when they start interfering with less stable countries that “the law of unintended consequences is inevitable.”
Cuban thinks Facebook is trying to develop Libra so they can monetize their 2.2 billion users. On top of that, they may be seeking “global currency domination.” Otherwise, Mark Cuban says, Facebook could just support the use of bitcoin on its platform.