Mark Cuban calls for stablecoin regulation in wake of Iron Finance 'bank run'
Cointelegraph
Published Jun 17, 2021 11:09PM ET
Updated Jun 19, 2021 01:00AM ET
Billionaire investor and DeFi proponent Mark Cuban has called for stablecoin regulation after losing money on what he dubbed as a “rug pull” on the Iron Finance protocol.
According to Iron Finance, the partially collateralized stablecoin project was the subject of a “historical bank run” that resulted in the price of the IRON stablecoin moving off peg. As a consequence, the price of Iron’s native token TITAN crashed by almost 100% over two days from its all-time high of $64.04.
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Written By: Cointelegraph
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