Not too long ago, we revealed the fact that the White House has a crypto report out, and now, it’s being addressed by Gemini co-founder. Check out the latest reports below.
Gemini founder addresses White House crypto report
The founder of one of the biggest crypto exchanges in the world is commenting on the recent White House crypto report.
In a lengthy thread, Gemini founder Cameron Winklevoss tells his followers that the recent White House crypto report over stresses the risks of blockchain.
“When the White House released it’s EO [Executive Order] back in March 2022, it was a watershed moment for the crypto industry. The EO astutely acknowledged the transformative potential of crypto and the need for the US to lead on this front.”
He continued and said the following:
“The reports submitted, however, fail to capture the myriad of benefits and opportunities that crypto can and will bring to the US economy and financial system. Instead, the reports unfortunately DISPROPORTIONATELY FOCUS ON THE RISKS and do not provide clear recommendations.”
Winklevoss also said that regulation by enforcement would crash the nascent industry.
“The reports submitted also fail to fully appreciate that crypto can dramatically improve our existing financial system. Crypto has the power to transform our financial system by eliminating unnecessary intermediaries and increasing access and participation.”
Latest crypto news
The massive market volatility, the optimistic predicitons about Ethereum continue to pop up. At the moment of writing this article, ETH is trading in the green, and the coin is priced at $1,302.
Pseudonymous crypto trader Rekt Capital told people who are following him to trust their instincts and data on BTC.
The analyst also talked about the ETH merge and said that the coin would need more time to turn bullish, just like Bitcoin does need its time to rise following a halving process.
