Maybe all of you are aware of this theory. I was not, and first read about this theory this morning.
The theory goes something like this: The US (people in charge of the SEC) are allowing "bad actors" in cryptocurrency to do whatever they want because the goal would be to destroy cryptocurrency. Here is the article I read: https://dailyhodl.com/2023/02/22/us-officials-could-be-sabotaging-crypto-industry-according-to-cardano-creator-charles-hoskinson/
The article talks about how they want to destroy cryptocurrency, and therefore allow the "bad guys" to do whatever they want, which ultimately harms the "good guys" and cryptocurrency in general. If this were true, it would make sense because cryptocurrency, for better or worse has at least from the outside, a tinge of "the greater fool theory" and a "Ponzi scheme." I mean, who doesn't want to give (pre FTX collapse) SBF your money because of the "WOW" factor and the wonderful returns they were getting on their investments.
However, I have my own theory about conspiracy theories. I believe there is no need and no real large scale conspiracy theories. IN this day and age, you can flat out tell someone you are lying and then immediately deny it and people will believe either side depending on their own agenda.
I like a good conspiracy theory, but I do not believe the US is purposely allowing people to be harmed. They don't need to. It is obvious they did not take cryptocurrency seriously. I mean, look at the most respected, or one of the most respected financial leaders in the country (Warren Buffet) and read what he has to say about cryptocurrency. It is not good. I think the regulators felt the same, or in similar ways as Mr. Buffet. I believe the allowing of "bad actors" was simply a form of negligence and denial of the fact cryptocurrency is here to stay and something worth their time. Now, they are reacting to it instead of being proactive. Either way, the harm was done whether it was on purpose or on accident.
I have been writing about, that at least from a psychological perspective regulation in cryptocurrency is needed. It will come and some will be harmed and others will flourish. I have read today about how some believe Ethereum will die when regulation comes, and read about how Ethereum will be the only one left standing. Both are opinion. There is room for many cryptocurrency projects, the weak will go away some 2100 have already done so.
