They’re Finally Coming After Crypto

The cryptocurrency industry is facing a major challenge from the traditional financial system, which seems to be trying to push out and undermine the growth and innovation of Crypto native companies, especially Exchanges such as Coinbase and Binance.

The truth is, Old Money finally realized that they cannot ignore cryptocurrency any longer and the only alternative now is to try and control it.

For the last 3 months, there has been a concerted effort to push out crypto native firms and have them slowly be replaced by the traditional financial system that Cryptocurrency tries to move away from in the first place.

The Evidence

First, let’s look at the evidence. In the past month, several prominent hedge fund managers have been filing for Bitcoin ETFs (exchange-traded funds) with the U.S. Securities and Exchange Commission (SEC). These include Cathie Wood of Ark Invest, Anthony Scaramucci of SkyBridge Capital, John Paulson of Paulson & Co, and of course Larry Fink of Blackrock. Why are they suddenly so interested in Bitcoin, after years of dismissing it as a speculative bubble or a scam? This alone is a strong indication that the Old Boys’ club has their attention fixed on cryptocurrency.

Furthermore, the SEC has been cracking down on the cryptocurrency industry, especially on…