Crypto companies are already on high alert after weeks of uncertainty in a market downturn that has seen the value of the wholesince its $3 trillion peak in early November. Crypto markets are also reeling from the recent collapse of TerraUSD, a so-called stablecoin whose popularity soared thanks to the sky-high returns promised through a connected lending platform. Celsius’s tumble has done little to help the market turmoil, with— a far cry from its November high of $67,000.
Heusser is far from alone. At an Amsterdam fintech conference last week, attendees working for crypto companies were whispering concerns about Celsius and fearing a regulatory backlash. Among the few who were comfortable speaking about it publicly was Stephen Richardson, vice president of product strategy and business solutions at the crypto company Fireblocks.
“It’s mind-boggling to me,” John Reed Stark, a former chief of the SEC’s Office of Internet Enforcement, said in an interview, adding that lending platforms have become “a plague with no regulatory oversight, no consumer protections. No fiduciary infrastructure of any type.” MiCA doesn’t target crypto lending. But it sets strict industry standards and supervision for crypto token-issuing companies that set up shop in Europe after the rules come into force. Celsius’ crisis shows the need to strengthen those draft rules to ensure that preexisting crypto companies are also in scope, according to Green MEP Ernest Urtasun.
ProtonXPR gaurxvv
But
Who has two thumbs and was never dumb enough to get caught up in the crypto craze? This gal! 🤣🤣🤣🤣🤣🤣🤣
Cryptocurrency sounds like a Ponzi scheme that finances and enables international hacking Can't get your money out until more people 'invest' Why else pay for a blockchain, i.e. random decryption of layers of encryption put in place to prevent being hacked?
SENIOR MANAGEMENT 😎
Why don't they just give everybody monopoly money? Same value....
“…a decision that steals peoples money to pay off Celsius’ creditors” There, I fixed the headline.