Cardano creator says politicians are responsible for the banking crisis


Charles Hoskinson slammed European politician over his crypto-hater comment amid crypto friendly US banks’ bankruptcy. 

Recently Johan Van Overtveldt, a former finance minister of Belgium and current member of the European Parliament took to Twitter to criticise cryptocurrencies. He claimed that cryptocurrencies are responsible for the downfall of US banks. And also he compared crypto to Drugs & suggested a blanket ban. 

On 18 March 2023, Charles Hoskinson, the founder of Cardano blockchain & CEO of Input Output Hong Kong Global (IOG), took to Twitter to show his anger over the statement passed by the member of the European Parliament.

Hoskinson said that Central Banks & Politicians are only responsible for the US banking crisis. Hoskinson suggested all the people remember these negative statements about crypto & use vote power during election time properly.

Cryptos vs Banks war

It is a truth that the majority of the crypto critics are dragging crypto companies on their radar amid US banks’ downfall but it is also a bitter truth that crypto companies are facing loss because of the downfall of the US banks. 

The majority of the failed banks are those which were providing banking services to small tech companies, including crypto companies, to process small transactions daily. 

Here we can take the example of Circle (USDC), a stablecoin crypto company, which was under a risk of 25% USDC reserved fund loss because of the downfall of the bank but its fair operations helped the company successfully recover from that situation.

These examples are showing that crypto companies are victims of the US banking crisis and here crypto companies are not responsible for the downfall of any bank.

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