Is the cryptocurrency crash being manipulated on purpose? As every cryptocurrency holder knows, the world of cryptocurrency is on fire, literally.
Most notably, the big boys of crypto, Bitcoin and Etherium, have been on a downward spiral in what has been a bloody past couple of weeks. But the timing of this crypto blood bath is very interesting.
Fed Chair Powell just announced that the US government would be looking at its own cryptocurrency to help stabilize the economy.
"Our own fed now service will be coming online in 2023." Fed Chairman Powell.
In May, Cardona developer Chris Hoskinson
posted a message on Twitter alleging the cause of the LUNA and Stablecoin UST price drops. The message soon deleted but accused Blackrock and Citadel of manipulating the crash. Rumored has it Blackrock and Citadel
borrowed 100,000 BTC from Gemini to purchase UST with 25,000 BTC just to short the stable coin. The claims have since been denied. But skepticism remains as the crypto-world believes the shorting was intentional.
That brings us here to my latest point. Here's where I get conspiratorial. It has been noted that the powers-that-be have been eyeing cryptocurrency for quite some time. Often mainstream media has demonized cryptocurrency, labeling it as a means for criminals to conduct illegal activities without being traced.
With the recent conflict between Russia and Ukraine, there has been an uptick in the demonizing of cryptocurrency.
During a U.S. Senate Committee Banking, Housing, and Urban Affairs, United States Senator Elizabeth Warren pushed out more anti-crypto rhetoric as she expressed concern that cryptocurrency could be used by Russian President Vladimir Putin and his cronies to undermine the international community's economic sanctions against Russia following its invasion of Ukraine.
Senator Warren: "The cryptocurrency market has exploded over the last few years, with the volume of crypto transactions reaching nearly $16 trillion last year – that’s up about 600% just from 2020. Now, most of that growth has been driven by speculation and gambling. But we also know crypto provides a new payment option for criminals and cheats."
"Sanctioned persons, illicit actors, and their related networks of facilitators may attempt to use crypto and anonymizing tools to evade US sanctions and protect their assets around the globe."
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As you can see, there is a full-blown attack on cryptocurrency by some high-level officials, business people, and also some not so well known influencers who may have reason to shut down crypto or at least weaken it as much as possible. Just like the stock market, crypto can be manipulated. The running theory is that cryptocurrency will be blamed for some sort of false flag attack. Then the Fed will substitute today's cryptos with a new coin, wholly regulated, traceable, taxable, and, more importantly, centralized to a point where the federal government can demonetize any individual deemed to be a threat. The problem with that is everyone is in today's America is that everyone can be considered a threat to the US government.
This is the beginning of the Chinese social credit score where you can have your whole life turned off just for being at odds with the government.