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 Lazy.com, 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:

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Zack Seward

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.