, 2022-05-14 07:00:00,
The markets are rocked. Many of you will check your portfolios and ask why you have lost over 50% of your net worth? The answer is, for once, not FUD coming out of China, Europe, or the SEC.
The fear, uncertainty, and doubt among retail and institutional investors have been triggered by a direct attack on what we stand for.
We are under attack
Today, we are under a concerted attack on the crypto industry at large from traditional businesses and organizations. I believe this is because crypto has established itself as a realized existential threat to the conventional financial system.
Gone are the days of people hypothesizing that crypto could take over. The path to a new world order based on blockchain now has millions of people walking on it, and someone is not happy about it.
Many people are waking up to see significant losses in their portfolios. Bitcoin is down 60% from its all-time high, Ethereum is down 30% in a week, LUNA is down 99.9%, and UST is way off its dollar peg at $0.16.
Further, the world’s biggest stablecoin, Tether USD, has shown signs of vulnerability by also losing its peg on centralized exchanges. This, of course, is due to people selling. However, the catalyst, I believe, was a coordinated attack on crypto.
Traditional finance, governments, and business leaders outside of the web3 space are scared of the change blockchain can bring, and they want to take us down.
The concept that crypto is under attack is not just a theory. Several public organizations, including the World Economic Forum, the International Monetary Fund, Greenpeace, and an unknown number of other parties, are launching an attack on the entire cryptocurrency ecosystem.
Whether these attacks are coordinated or simply serving a common goal is not for me to confirm, but they have created…
To read the original article, go to Click here