Cardano founder Charles Hoskinson says Krypto should stop the connections to banks

Cardano founder Charles Hoskinson says Krypto should stop the connections to banks

The founder of Cardano-Charles Hoskinskon-believes that the cryptocurrency industry should differ from the "unstable and volatile" banking sector.

three of the leading financial institutions of America-Silvergate Capital, Silicon Valley Bank and Signature Bank-were closed by the supervisory authorities at the beginning of this month, which gave numerous crypto-oriented companies to serious losses.

• In a recently published tweet, Hoskinson said that Krypto should stay away from traditional banking, since the sector is full of "unstable and volatile" institutions.

crypto must come off from these unstable and volatile banks

- Charles Hoskinson (@Iohk_Charles) 15. March 2023

• He also predicted a "Game Over" scenario for banks as soon as "we can digitize treasure offices".
• The collapse of Silvergate, SVB and the crypto -friendly Signature Bank recently shaked the American financial system.
• Several cryptocurrency companies showed considerable commitment to the failed giants, including circle.
• The company behind the second largest stable coin USDC had $ 3.3 billion in the Silicon Valley Bank. The asset crashed up to $ 0.87 (Coingecko data) shortly afterwards, but restored its value of $ 1 in the following days.
• The crypto base Coinbase called It held $ 240 million in the Signature Bank, while Paxos had an engagement of $ 250 million.
• The President of the United States-Joe Biden- called At the beginning of this week that Americans should have confidence in the domestic banking network and call it "safe".
• He also dealt with the collapse of the SVB (one of the 20 largest banks in the USA before their downfall) and assured that "no losses are borne by the taxpayers".
• On the other hand, the institution's investors lose their money, because "this is how capitalism works", the political leader outlined.

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