I have a theory that the biggest financial institutions are trying to replace Cryptocurrency Native companies

Today I wear a tinfoil hat but it’s not entirely unfounded. Here’s what I’m basing my theory on.

In the last month we’ve had literally the biggest Hedgefund managers on the market aggressively filing for Bitcoin ETFs like they’re running out of fashion.

Previously the SEC started attacking the cryptocurrency industry as a whole, with a particular focus on the biggest Crypto Exhanges - Binance and Coinbase. Adding to that, Binance has been struggling to get the appropriate licences to continue to operate in several territories in Europe and has announced to completely retreat out of Netherlands. They offer a limited service in other European countries. The Binance U.S and Coinbase in the US situation is still unclear.

Biden announced he’ll be going after “crypto loopholes” - whatever that means but I’m adding here because it fits the theory.

The EU and UK are progressing their digital currency programs and there are many talks about CBDCs in the US.

It seems that there is a concerted effort to push out the big crypto native players such as Coinbase and Binance, and make space, by kicking, screaming and shoving for the old financial system that has been in control up until now.

What it looks like to me is that Old Money is afraid to lose control and is trying to cannibalise New Money.

Call me paranoid but it’s kind of wild that all of these things are happening in parallel. Like, when’s the last time you heard of a proposal or regulation that benefits crypto native companies?

Just because we’re paranoid, that doesn’t means they’re not out there to get us.