• Charles Hoskinson, founder of Cardano, has urged abandoning banks amid the ongoing crisis, calling for “crypto de-risk.”
• Many speculate that regulators have been specifically targeting crypto-friendly banks recently.
• Crypto has continued to grow despite the odds and there is a growing demand for decentralized systems.
Charles Hoskinson Calls for „Crypto De-Risk“
Charles Hoskinson, founder of Cardano, has called for „crypto de-risk“ from unstable and volatile banks and urged abandoning them amid the ongoing crisis. Many speculate that regulators have been specifically targeting crypto-friendly banks recently as evidenced by the shutdown of Silicon Valley Bank and Signature Bank.
Cryptocurrency Market Showing Strong Resilience
The cryptocurrency market has shown strong resilience to the recent banking crisis with Bitcoin and altcoins delivering a strong rally. Bitcoin’s surge past $25,000 has got everyone talking about BTC emerging as a beacon of hope when traditional systems are failing. Not only Bitcoin but other altcoins are doing extremely well too.
Decentralized Alternatives Growing in Demand
In response to Hoskinson’s tweet, one user called on the need for decentralized banks. Responding to it, the Cardano founder said: The moment we can digitize treasuries, it’s game over for banks. Crypto continues to grow despite the odds and there is a growing demand for decentralized systems in order to reduce an individual’s reliance on centralized entities like banks or governments.
Crypto Facing Challenges Reestablishing Connection With Banking System
Several crypto companies have reported that it’s getting much tougher to find banks willing to offer services to crypto firms due to regulatory pressures. This makes it difficult for crypto projects to reestablish their connection with traditional banking systems despite its growing popularity among investors worldwide..
Conclusion
Despite facing backlash from regulators over the past several years, cryptocurrencies continue to grow in popularity among investors worldwide due its ability provide secured transactions while being free from government control or influence from centralised entities such as banks or governments .