Date: 2023-06-10T18:32:53Z Creator: Bitfolio Academy
The collapse of crypto markets this week is due to the SEC’s war on crypto. Gary Gensler on CNBC revealed his bias. He does not think that the world needs digital assets, like Bitcoin and Ethereum. Here is what he said.
Look, we don’t need more digital currency. We already have digital currency. It is called the US dollar. It’s called the Euro. It’s called the Yen. They are all digital right now. We already have digital investments. And, you have entrepreneurs who represent digital investments on this program all day long. It’s the big tech companies. It’s the automobile companies. You name it. It is all digital right now, the investing world.
Gensler’s comment shows blatant lack of insight and a lack of thoughtful engagement. This knee-jerk reaction is wreaking havoc on the crypto market. BNB down 23%. SOL down 30%. ADA down 32%. MATIC is down 38%. All crypto assets, including Bitcoin and Ethereum, are flashing sell signals with the bears fully in control.
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