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Bitcoin is rejected by Mainstream


Bitcoin is rejected by the Mainstream

Crypto is experiencing a kick-starting renaissance. Constant declines of coin prices, failures like those at TerraUSD stablecoin, Three Arrows Capital, Voyager, BlockFi and Celsius have cast doubts on the optimistic vision for the crypto community.

However, the end of FTX, the iconic cryptocurrency exchange, has thrown doubt into the hearts of the matter. Every revelation about the exchange’s laxity has fueled the suspicion that crypto is fundamentally flawed. Skeptics and openly hostile to crypto are on the rise.

Now, questions are being raised as to whether crypto should be legalized as a form or finance. Critics argue that it lacks legitimacy.

Sam Bankman Fried has been avoided as much as possible. Others believe that centralized exchanges are the problem, and the crisis should speed up the transition towards decentralized finance. Or bitcoin isn’t the problem.

The Crypto World is in Crisis

The ECB blog, on the other hand, went for the jugular on bitcoin, concluding with a series of Crypto Critic best hits: bitcoin’s value is “based purely on speculation,” it is an “unprecedented polluter,” and it poses a “reputational risk for…

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