I have said from the beginning that the initial explosion of crypto currencies globally lacked one major component to insure ubitiquous adoption.
And that component was the support of our Federal Reserve here in the United States. The creation of a CBDC , defined as a central bank digital currency is looming but not yet reality here. The US still commands a powerful economic presence globally in regards to our dollar, still the go to currency for goods and services in the majority of the world but faces competition from other state sponsored currencies like China’s Yuan and the Russian ruble.
So it would make sense that any alternative currency to the dollar would perhaps find traction in disparate economically segregated areas of the world supported by state sponsors with an insidious fiscal agenda against us . Makes you wonder if a really really smart banker somewhere engineered this seemingly total collapse as when the true scope of this debacle is made known, it will show the interlocking moving parts of the industry with FTX as the fulcrum insuring the perfect takedown of everything in the collapse. NBC News did a good job explaining everything here….