What if full on anti crypto populism is here short term?
Sanctions, social ostracization of anyone crypto affiliated, millions of ex-crypto users -most of whom are naive Gen Z and millenials (94%) to cheer on Feds starting to arrest devs and promoters using the coming economic sentiment to their benefit, more banks to unbank the banked for using crypto like Chase UK just did, barely a day goes by without another indictment/lawsuit/hack now, new FinCen requirements on mixers Friday, UK FCA threatening prison time to unregistered advertising, list goes on and on.
It's unfortunate but crypto bros really thought due to a decade of ZIRP the world ran on shitcoins and DeFi. Turns out when shit hits the fan it still runs on state backed violence.
Did crypto bros really think they could release and market half baked, often flawed, open access financial tech to the masses as replacements for the banking system, inadvertently lead to terrorist financing and billions to be hacked, and nothing would happen in retaliation from users and the Feds?
Lol.
A level of hell the crypto industry cannot imagine is still to come, and economic crimes to be paid for before any future bull market to happen longer term. We shall see.
"economic crimes to be paid for before any future bull market to happen longer term" - I don't disagree with you actually. There has been too much shenanigan. We are just following the markets, we don't know what will happen.
What if full on anti crypto populism is here short term?
Sanctions, social ostracization of anyone crypto affiliated, millions of ex-crypto users -most of whom are naive Gen Z and millenials (94%) to cheer on Feds starting to arrest devs and promoters using the coming economic sentiment to their benefit, more banks to unbank the banked for using crypto like Chase UK just did, barely a day goes by without another indictment/lawsuit/hack now, new FinCen requirements on mixers Friday, UK FCA threatening prison time to unregistered advertising, list goes on and on.
It's unfortunate but crypto bros really thought due to a decade of ZIRP the world ran on shitcoins and DeFi. Turns out when shit hits the fan it still runs on state backed violence.
Did crypto bros really think they could release and market half baked, often flawed, open access financial tech to the masses as replacements for the banking system, inadvertently lead to terrorist financing and billions to be hacked, and nothing would happen in retaliation from users and the Feds?
Lol.
A level of hell the crypto industry cannot imagine is still to come, and economic crimes to be paid for before any future bull market to happen longer term. We shall see.
"economic crimes to be paid for before any future bull market to happen longer term" - I don't disagree with you actually. There has been too much shenanigan. We are just following the markets, we don't know what will happen.