Mark Cuban warned the market downturn would force bad crypto businesses to fold during a recent Fortune interview.
"In stocks and crypto, you will see companies that were sustained by cheap, easy money — but didn't have valid business prospects — disappear," he said.
However, the tech billionaire and "Shark Tank" investor predicted any crypto firms offering game-changing applications and innovations would succeed in attracting customers, and shrug off the expected flurry of interest-rate hikes this year.
Cuban has previously declared that only a handful of crypto tokens will become world-beaters, while others won't survive.
"Bitcoin, Ethereum, a few others will be analogous to those that were built during the dot-com era, survived the bubble bursting and thrived, like Amazon, eBay, and Priceline," Cuban tweeted in January 2021. "Many won't."