Just lately Johan Van Overtveldt, a former finance minister of Belgium and present member of the European Parliament took to Twitter to criticise cryptocurrencies. He claimed that cryptocurrencies are accountable for the downfall of US banks. And in addition he in contrast crypto to Medicine & steered a blanket ban.
On 18 March 2023, Charles Hoskinson, the founding father of Cardano blockchain & CEO of Enter Output Hong Kong World (IOG), took to Twitter to indicate his anger over the assertion handed by the member of the European Parliament.
Hoskinson mentioned that Central Banks & Politicians are solely accountable for the US banking disaster. Hoskinson steered all of the folks bear in mind these detrimental statements about crypto & use vote energy throughout election time correctly.
Cryptos vs Banks battle
It’s a fact that almost all of the crypto critics are dragging crypto firms on their radar amid US banks’ downfall however additionally it is a bitter fact that crypto firms are going through loss due to the downfall of the US banks.
Nearly all of the failed banks are these which had been offering banking companies to small tech firms, together with crypto firms, to course of small transactions day by day.
Right here we are able to take the instance of Circle (USDC), a stablecoin crypto firm, which was underneath a threat of 25% USDC reserved fund loss due to the downfall of the financial institution however its honest operations helped the corporate efficiently recuperate from that scenario.
These examples are exhibiting that crypto firms are victims of the US banking disaster and right here crypto firms usually are not accountable for the downfall of any financial institution.
Learn additionally: Coinbase govt appreciates Ripple’s protection within the XRP lawsuit
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