The Downfall of Crypto

With the fall of crypto currency value, the arrest of Sam Bankman-Fried, and the decline in prices for crypto miners, we might be seeing the end of crypto for good, and here’s what you need to know.

The goal for using cryptocurrencies was a way to buy and sell securities through a decentralized platform. However, with no government regulation it is easy to use crypto for money laundering or untraced off-shore exchange. With this as a major issue to track taxes, government’s not only have no interest in adopting crypto as their currency, but they actively work against the use of it. There is also nothing to back crypto currency, besides the people who invest in it. To explain the danger behind that, when you invest in a company like Apple, Inc. you are investing in a company worth over $1 trillion, that earns hundreds of billions of dollars per year in revenue, so if your investment was liquidated, you are able to earn back a portion of that company as cash.

If cryptocurrencies were suddenly banned in the US and your positions were liquidated, you would get nothing in return. The downfall of cryptocurrency is quickly upon us, and it seems there is no going back.