It’s been a shaky year for the new financial order, Crypto. From the crash of a well-known exchange platform to a huge chunk of government lawsuits, one would ask: Is Crypto dead already? Are they finally going to exit? Will I lose my chance to continue betting on my favorite casino games? Well, the answer is an echoing “No”!
The uncomfortable ride in the cryptocurrency journey has given the financial and gambling sectors the wrong impression. Top cryptocurrency casinos are depleting. However shaken, top coins like the Bitcoin and Ethereum ecosystems have remained firm in the blockchain world.
Also, platforms like Coinbase, despite its lawsuits from the Securities and Exchange Commission (SEC), still manage to strive. Not to forget, Binance is fully functional after several lashes from the SEC lawsuit desk.
Now, let’s examine if Crypto is dead to fully understand the root of its earthquakes. Read on this casino news to find out.
Is Crypto Dead? The Rollercoaster Crypto Ride
Following the lawsuits from 2022, crypto exchanges like TerraUSD, BlockFi, and the FTX, among others, have been knocked out by the SEC. Cryptocurrencies like Luna also saw their downfall, and in the same vein, Celsius faced bankruptcy. Along this line, in June 2023, the Commission decided to take the role of its eyeball to the big names—Binance and Coinbase. First to Binance for customer funds mismanagement and other white-collar crimes, and next, to Coinbase for illegally commingling brokerage. However, both haven’t gone without a fight and continue to do so.
Crypto Thrives to Stay Relevant in Crisis
Though it’s trending, people still wonder — is Crypto dead for real? These trends are being locked in and dismissed as FUDs, so one gets the wrong impression. “FUD” stands for “fear, uncertainty, and doubt,” it’s a term often used in the cryptocurrency world to describe negative news, data, or online casino chatter viewed as propaganda against digital currencies. However, this term has a history predating crypto, where it referred to disinformation tactics employed by businesses to harm their competitors.
Disregarding FUD is considered a symbol of unwavering commitment to the cryptocurrency cause within the blockchain and crypto community. Yet, not all claims categorized as FUD are baseless. Events like that of Luna and Celsius have showcased instances where concerns raised were not mere fear-mongering but had real substance.
Changpeng Zhao, the founder of the global crypto exchange Binance, is known for vigorously countering FUD in the crypto sphere. He often labels negative press and lawsuits as FUD and has even turned the term into a verb. When facing a lawsuit from the Commodity Futures Trading Commission, Zhao tweeted, referring to his earlier advice to ignore FUD, fake cryptocurrency news today, attacks, etc.
Effects of Crypto Crash on Gambling
The crypto crash that dropped Bitcoin’s value from about $68,000 to $20,856.35 has not significantly affected the gambling industry. Established gambling remains stable during economic downturns, but newer, less trusted coins and tokens used in the crypto casino may have lost value. Highly leveraged crypto businesses like exchanges and lenders are facing challenges.
Some exchanges have cut staff, and a crypto hedge fund went into administration. This crash will clarify regulatory issues, with some jurisdictions tightening regulations to protect consumers. The G20 is working on a global framework for cryptocurrency regulation, acknowledging the need to regulate the speculative crypto sector for market stability.
So, Is Crypto Dead?
We go for a “no”. Although many may argue that crypto is dead in the US, as far as we know, crypto isn’t! Yes, crypto may be in crisis, but it is not dead. By all indications, no one seems to have the power to shut down crypto completely. Although powerful nations like the US and China may influence its regulations, they couldn’t shut it down. This is because public ledgers operate crypto and use a formidable tech that would be nearly impossible to stop. So, if you’re looking to play your XMas Yeti Online Slot and invest your winnings in crypto, now should be the right time due to slashed rates. In the end, the increase in the value of crypto is bound to time and patience.
Final Thoughts
To conclude the question “Is crypto dead”? Cryptocurrency is alive and kicking, but it’s far from settled. Like any asset, its value depends on a delicate balance of supply, demand, and perception of risk versus reward. This fundamental principle applies to all capital markets.
Cryptocurrency’s persistent presence in the media reflects its ongoing contentious nature, making it a topic that will continue to spark discussions and debates in the financial world. But, before investing, ensure your findings to know what you’re getting into. It’s just like checking your poker cheat sheet manual before gambling on a hand of poker.
Though the question may still be unclear for many, why gamble with uncertainty? Equip yourself with our trusted online casino guides and learn more than you thought you could, including betting approaches like the Martingale strategy, bluffing techniques, card counting, and more!
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