President of Minneapolis Bank of the Fed is a know-nothing | FTX saga continues
@taskmaster4450 discussed how yet another person in power with no knowledge past the surface thinks he knows much. The only reason he is having the chance to say this is because of the whole FTX debacle. I think we can add this to one of the BTC obituaries I wrote about a few days ago.
The truth is that when people in the banking sector speak about crypto it is all from a place of fear. He claimed to be an optimist 5 years ago, well if he did his research he would know that those were the initial phases of this new technology. I would also argue that even when web 2 came out there were more failed sites than ones that actually worked.
Where we are today is a result of years of perfecting what started all those years. People like him sound so pessimistic about it but I am sure they hold digital assets. They just don’t want to see any power go away from the banks because they know they will lose their source of lively hood.
This is why I use Hive and I am building my Hive portfolio, so I can stand and speak my truth without fear of losing my job.
It could also be the case that he does not know what he is saying and has no digital assets and is not acting as a fear-mongering voice for the government. Whatever the case may be I think he will see the reason sooner or later why people came to this space to stay.
FTX saga continues
Other crypto exchanges are still being affected by the recent FTX problem that cause billions of dollars to be lost. Among them, Gemini suffered from withdrawals worth $500 million because of Gemini-earn’s delay in withdrawals.
The bigger shock however has come from Genesis global stopping withdraws.
Because they are a subsidiary of Digital Currency Group which had investments in FTX. Many cryptocurrency exchanges have announced that they do not have any connections with Genesis Global biggest of them Coinbase joined in separating themselves from this exchange.
Like I said a few days ago, we will continue to see this on the news regularly because of the significance of this FTX crash. It will continue to make headlines till a new use case of crypto takes the hearts of many.
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