Friday, September 29, 2023
MetaWeb3
Subscribe
  • Home
  • About Us
  • Listings
    • ICO List
    • IDO List
  • Web3 Events
    • Events List
    • Events by Month
    • Web3 Calendar
  • News
  • Blog
    • Blog
    • Press Release
  • Contact
    Home / News / Cryptocurrencies may all ‘come crashing down’: Michael Lewis
BTC/USD
  • BTC/USD
  • XRP/USD
  • BCH/USD
  • EOS/USD
  • LTC/USD
  • TRX/USD
  • ADA/USD
  • XLM/USD
  • IOT/USD
  • ABC/USD
  • NEO/USD
  • XMR/USD
  • DASH/USD
  • XEM/USD
  • QTUM/USD
  • BCN/USD
  • ICX/USD
  • ZEC/USD
  • LSK/USD
  • IOST/USD
Low
High
Marketcap
News
April 14, 2022 by admin
Share this:
  • Facebook
  • Twitter
  • Google Plus
  • Pinterest
  • Email to a Friend

Cryptocurrencies may all ‘come crashing down’: Michael Lewis

Crypto Downtrend

Celebrities are divided into two camps when it comes to cryptocurrency: supporters and skeptics.

Gwyneth Paltrow, Snoop Dogg, and Justin Bieber have all come out in favor of cryptocurrency. Former “The O.C.” star Ben McKenzie, who is co-authoring a book on the risks posed by Bitcoin, is one of the critics of digital assets.

Best-selling author Michael Lewis, whose 16 books feature in-depth accounts of Wall Street’s thrills and foibles, appears to be somewhere in the middle.

Lewis warned in a new interview that the value of cryptocurrencies might collapse substantially, and that its widespread acceptance could endanger traditional finance markets. However, he praised crypto advances, claiming that they may help traders be more fair.

“It may all come crumbling down,” Lewis adds, referring to his podcast “Against the Rules,” which recently returned for its third season. “Crypto, like gold and the currency, is an act of faith.”

“It’s difficult — impossible — to determine whether or not that faith is durable,” he adds. “However, the longer it goes on, the greater the challenge to the present financial order becomes.”

While the major stock indexes have lost ground so far this year, the popular cryptocurrencies bitcoin (BTC-USD) and ethereum (ETH-USD) have undergone even more dramatic drops. As of early Wednesday morning, Bitcoin had declined 16 percent this year, while Ethereum had fallen 21 percent.

However, proponents of cryptocurrency argue that volatility is to be expected for such a new asset class, citing regulatory uncertainty as a factor in market movements.

In a comprehensive address last week, Treasury Secretary Janet Yellen argued for cryptocurrency regulation, arguing that government intervention would oversee the rapid expansion of digital assets and prevent illicit uses.

President Joe Biden signed an executive order on Bitcoin in March, and the remarks followed just weeks afterwards. Many prominent crypto figures applauded the move by the Biden administration.

cryptocurrencynews
Previous Post
Crypto Funds See Largest Weekly Outflows Since January
Next Post
Ethereum Merge No Longer Expected in June

Related Posts

Top Crypto Exchanges
News
Top 10 Crypto Exchanges and Platforms for 2023
February 28, 2023 by admin
Tokenizing the Titanic
News
Tokenizing the Titanic: New Partnership Brings Real Artifacts from Wreckage to NFT Market
February 24, 2023 by admin
Hong Kong Crypto Trading
News
Crypto Hub in the Making: Hong Kong Pushes Forward with Plans for Retail Crypto Trading
February 23, 2023 by admin
ICO Calendar
May 16, 2018
CoinLion

Exchange & portfolio management

View All ICOs
Advertisement
Advertisement
Most Read
  • Poppy Playtime NFT and the controversy latest updates
  • How To Bring Virtual Fashion Into The Mainstream
  • What is Cryptocurrency, and how does it work?
  • Metaverse Summit: The first women-led Web3 conference to take place in Paris
  • Crypto Heirloom, Apex Legends - Ultimate Guide
Latest
Top Crypto Exchanges
News
Top 10 Crypto Exchanges and Platforms for 2023
28 February, 2023
Tokenizing the Titanic
News
Tokenizing the Titanic: New Partnership Brings Real Artifacts from Wreckage to NFT Market
24 February, 2023
Hong Kong Crypto Trading
News
Crypto Hub in the Making: Hong Kong Pushes Forward with Plans for Retail Crypto Trading
23 February, 2023
Categories
  • Blockchain
  • Blockchain Game
  • Crypto
  • dApp
  • DeFi
  • Metaverse
  • News
  • NFT
  • PR
Calendar
September 2023
M T W T F S S
 123
45678910
11121314151617
18192021222324
252627282930  
« Feb    
MetaWeb3
  • Write for Us
  • Terms & Conditions
  • Privacy Policy
  • Contact
  • Web3 Calendar
About

MetaWeb3.tech is an online media site that focuses on Fintech, digital assets, blockchain technology, Decentralized Finance (Defi), Decentralized Apps (DApps), Metaverse, Crypto Games and other related technologies, covering news, opinions, trends, and informative articles.

Contact Us

Categories
  • Blockchain
  • Blockchain Game
  • Crypto
  • dApp
  • DeFi
  • Metaverse
  • News
  • NFT
  • PR
Newsletter Subscription
Connect With Us
Copyright © 2018 Cryptex. All Rights Reserved.