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A comment on Crypto firm BlockFi files for bankruptcy as FTX fallout spreads. Parent comment

Re:Crypto firm BlockFi files for bankruptcy as FTX fallout s... by smitty1110 on Monday November 28, 2022 @01:17PM (#33777271)
The endgame is regulation. The US Treasury launches a digital dollar and declares other USD-demoninated stablecoins as illegal, crushing the on and off ramps for most exchanges. Adoption by banks and brokerages removes the need for separate crypto exchanges. KYC/AML requirements crush whatever remains.
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Re:Crypto firm BlockFi files for bankruptcy as FTX fallout s... by vdfs on Monday November 28, 2022 @01:29PM (#33777476)
> crushing the on and off ramps for most exchanges

That exchanges don't need help with that

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Re:Crypto firm BlockFi files for bankruptcy as FTX fallout s... by notch656a on Monday November 28, 2022 @01:57PM (#33777911)
... and assuming that is successful: something else emerges.

The emergence of crypto coincided with the final snuffing of bearer bonds and certificates and most anonymous bank accounts. The death of crypto will coincide with something else. The regulators of the world continue to pick and choose where to place their fingers in the cracks of the dam. Money that cannot efficiently or legally pass through KYC/AML will find a way.

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