Home » Ethereum Founder Issues ‘Controversial’ Bitcoin And Crypto Warning Amid Wild Price Swings

Ethereum Founder Issues ‘Controversial’ Bitcoin And Crypto Warning Amid Wild Price Swings

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Bitcoin
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Ethereum, and the broader crypto market grapple with a brutal bear market and looming regulation. Bitcoin and cryptocurrencies could be poised to push into the S&P 500.

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Bitcoin’s price surged this week, surpassing the much-watched $20,000 per Bitcoin, while Ethereum is up almost 25% from this time last week. Bitcoin price could return to all-time highs sooner than previously thought.

Ethereum co-founder Vitalik Buterin, who is currently one of the most respected voices in the Bitcoin and cryptocurrency community, has issued a warning about the adoption of a “controversial” cryptocurrency.In the face of growing excitement that cryptocurrencies could be heading towards a $10 trillion earthquake,.

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“I don’t think big institutional capital should be pursued full speed and zeal,” Buterin said. Posted on Twitter, calling the take “probably controversial.” “I’m actually kind of happy about a lot of things [exchange-traded funds] I’m late. The ecosystem needs time to mature before we can get more attention. “

The Crypto Market Has Welcoming Multiple “Huge Milestones” In Recent Months, Among The News BlackRock
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the world’s largest asset manager with $10 trillion in assets under management, has partnered with leading cryptocurrency exchange Coinbase to provide institutional investors with access to Bitcoin.

Financial services giant Fidelity surveyed more than 1,000 institutional investors this week and found that nearly 75% of them plan to buy cryptocurrencies in the future. report To block works.

Last year, the launch of the first US Bitcoin futures exchange-traded fund (ETF) pushed the price of Bitcoin to a record high of around $70,000, boosting the price of Ethereum and other major cryptocurrencies. Since then, a handful of applications for full-fledged US Bitcoin ETFs have been rejected by regulators.

In recent months, much of the discussion about cryptocurrencies has focused on looming regulations in the United States and around the world, fearing they could stifle innovation and development. Crypto billionaire and FTX cryptocurrency exchange CEO Sam Bankman-Fried says users of automated decentralized finance (DeFi) protocols will share data with businesses and regulators. The proposal that it is necessary has been criticized.

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“Regulations that make it difficult for cryptocurrency projects to reach the mainstream while allowing the crypto space to behave freely internally are better than regulations that undermine how cryptocurrencies work internally,” Buterin said. It’s not much worse,” he added.

Bankman-Fried endorsed Buterin’s proposal, calling it “generally … quite reasonable.”

Bankman-Fried this month called for tougher cryptographic standards, including consumer protection, transparency and improved disclosure, but sparked a backlash after being accused of trying to monopolize or censor cryptography.

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