Cryptocurrencies such as bitcoin are of use only for “terrorism financing, tax avoidance and sex trafficking”, JP Morgan’s CEO said.Cryptocurrencies such as bitcoin are of use only for “terrorism financing, tax avoidance and sex trafficking”, JP Morgan’s CEO said.Last modified on Wed 14 Dec 2022 20.
Bitcoin has still plunged in value by almost two-thirds this year, it should be said. But it has also rallied by about 10% since the downwards lurch whenfiled for bankruptcy in mid-November, which is extraordinary. One has to wonder: what are crypto’s true believers still smoking? A popular narrative says a few accidents are merely to be expected in the early years of a multi-decade financial revolution. The odd trading exchange might go pop but, hey, the most popular digital tokens should survive. And, when regulators eventually impose a few rules in crypto’s wild west, mainstream respectability will be secured, runs the theorising.
This cheerful spin sounds delusional. Whether or not Bankman-Fried is convicted, FTX looks an existential event for the crypto trading fad. As mediums of exchange in the real world of goods and services, none of the digital tokens has achieved lift-off, aside from their use in “terrorism financing, tax avoidance and sex trafficking”,As stores of value in inflationary times – the “digital gold” idea – they’ve flopped. And they yield no income, obviously.
FTX has nothing to do with Bitcoin. BTW, will the Democrats give back the money FTX gave them for the midterms from *ill gotten gains *(Stolen from people who trusted FTX)?
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: FinancialReview - 🏆 2. / 90 Read more »
Source: FinancialReview - 🏆 2. / 90 Read more »
Source: FinancialReview - 🏆 2. / 90 Read more »