Shoot the ambulance – Even if the project Terra desperately trying to find a rescue plan following the collapse of theUST then from LUNA, the recovery of the subject to criticize the entire crypto sector is well underway. The latest criticism comes from the leader of France Insoumise, Jean-Luc Melenchon.
Cryptos responsible for the economic collapse according to Mélenchon?
Prior warning: no political camp for the Journal du Coin. The whole political spectrum will have right to criticism when he shows how much he poorly mastered this nascent sector. Whether for Eric Zemmoura little too suddenly (electorally?) enthusiastic for cryptos, or for Valérie Pécresse or Emmanuel Macrona bit lost with the buzzword metaverse.
Today it’s Jean-Luc Melenchon who will have the right to his little spade. Because the leader of France Insoumise took advantage of the current weakness of the market for Bitcoin (BTC) and cryptocurrencies to make it a bad thing amalgam with traditional finance:
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The crypto market weighs 40 times less than the stock market
Let us set the record straight: it is indeed the aging and out of breath system of classical finance that disabled the crypto-asset market currently, and not the opposite. Scholarships actions world (particularly European and American) are currently frown.
Even at the top of the last bull run of Bitcoin, in November 2021, the entire crypto market represented $3 trillion. However, the stock market is estimated at… $120 trillion – either therefore 40 times more than all cryptos combined at their highest. As for the market derivative productslet’s not even talk about it, there would be enough to lose your head.
In summary, if we consider, like Jean-Luc Mélenchon, that the traditional finance has become a gigantic casino (poorly) managed by central banks, please do not confuse with Bitcoin. But the leader of LFI is far from being the only one surf on this negative trend. Indeed, the day after the UST disaster, the US Treasury Secretary, Janet Yellen, took the opportunity to call for the regulation of cryptocurrencies.
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