Mark Cuban Invests in Ethereum Layer 2 Polygon

Billionaire investor Mark Cuban has made an investment in Polygon, a layer 2 Ethereum scaling solution.

  • Cuban confirmed the investment in an email to CoinDesk but would not disclose its size or composition.
  • The price of MATIC, the native token of Polygon, is up more than 9,535% year to date, according to Messari.
  • With decentralized finance (DeFi) and other projects going live on Polygon, users have increasingly turned to the platform to escape the high transaction fees of the Ethereum mainnet.
  • “I was a Polygon user and find myself using it more and more,” Cuban said in an email.
  • He said he’s also integrating it into, a Cuban portfolio company that allows people to easily display non-fungible tokens (NFTs).
  • “We have spoken to many investors but the discussion with Mark Cuban was truly mind blowing,” Polygon co-founder Sandeep Nailwal told CoinDesk via Telegram.
  • Polygon was listed on Cuban’s website Tuesday as one of his holdings:
Read more: Polygon Price Climbs to Record High, Benefiting From Ethereum Congestion