Crypto Gains Popularity as Banks Fall: Earn Your First Bitcoin Now!

• Crypto currencies, such as Bitcoin and Ethereum, are gaining more popularity as banks continue to fail.
• Financial giants like JPMorgan Chase are taking on similar roles in the Great Recession banking crisis of 2008 and 2009.
• The Securities and Exchange Commission (SEC) is targeting crypto companies with a lack of regulation, creating uncertainty in the sector.

As Banks Fall, Crypto Gains More Popularity

Crypto currencies, such as Bitcoin, Ethereum, and other mainstream forms of digital currency are gaining increased traction and popularity due to the ongoing banking crisis. Companies like JPMorgan Chase have taken on similar roles in past financial crises such as that of 2008-2009.

Crypto Gaining Respect

The most recent bank to join the list of financial failures was First Republic Bank. As government officials distributed their assets to JPMorgan Chase, people are turning to crypto currency to keep their finances safe. Elliot Han – the head of crypto at Cantor Fitzgerald – expressed that “we’re seeing a lot more maturity” in regards to crypto currency usage.

Calls for Regulation

Given the crash of one of the world’s largest cryptocurrency exchanges FTX , there have been many calls for regulation surrounding cryptocurrency use. Bradley Duke from ETC Group commented that “a lack of framework for crypto creates uncertainty and retraction within the sector” which could be solved with better regulations surrounding its use.

Securities & Exchange Commission (SEC)

The SEC has long been criticized for its approach towards enforcing its will upon digital currency companies rather than attempting any kind of reasonable resolution or discussion with industry members. Coinbase was one company targeted by the agency along with many other major crypto firms who were forced into conditions set by only the SEC itself..

Conclusion

Cryptocurrency is increasingly becoming popular as banks fall apart and people no longer feel confident about standard banks anymore. While regulation is still far off from being established, it could bring much needed relief to investors if done correctly. The SEC continues to target major crypto firms but hopefully this won’t stop people from investing in digital currencies as they become more widely accepted over time.