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Sting of crypto hitmen: Is crypto being made to fail?

Crypto hitmen

TL;DR Breakdown

  • Crypto hitmen have taken hold of the DeFi industry for the better part of 2022
  • FTX investors have slim chances of getting their money back as SBF maintains strong connections in Washington, D.C. 
  • Evidence shows the crypto market is under attack shielded by recession and the crypto winter
  • Investors reduced appetite for risky asset industries could spell doom for crypto

There is trouble in the crypto industry, and the stakes are not appealing. It is human nature to try and explain that which cannot make sense. In this case, many investors are trying to make sense of the current crypto market to no avail. What if the truth was staring you and other crypto investors in the face the whole time? The truth is crypto hitmen have infiltrated the industry.

Here is a “tell-it-all” of the current crypto market situation

You may be wondering what crypto hitmen are; here is a detailed explanation. Everything stems from global economic hitmen. The truth regarding this topic was revealed in the book “Confessions of an Economic Hit Man” authored by John Perkins. He describes it as follows:

Economic hitmen are highly paid professionals who cheat countries around the globe out of trillions of dollars. Their tools include fraudulent financial reports, rigged elections, payoffs, extortion, sex, and murder.

John Perkins, an ex-economic hitman

Simply put, their duties consist of ensuring that a country becomes indebted so that it can be owned by the government for which they work. Oftentimes, they are covert operations with no moral code other than a code of devotion to their employers. So many traditional finance evils have found their way into decentralized finance, and so have these hitmen. These crypto hitmen have drained crypto to unprecedented lows.

Apart from the crypto winter, crypto hitmen are hell-bent on making sure the infant industry dies. 2022 has been a living testament to the operations of these crypto hitmen. Coincidences are currently too far-fetched to explain the loss of $2 trillion from the DeFi industry in less than a year.

Crypto critics will brand any inquiries and explanations as conspiracy theories. However, If you’ve been in the crypto sector long enough and grasped the impending crypto legislation, then you know that the industry didn’t suddenly find itself in this position.

Satoshi Nakamoto invented bitcoin in 2008 and launched it in January 2009 with the intent of creating a decentralized financial system out of the reach of governments. And the pseudonymous person(s) did so, saving investors a great deal of money in trade and transactions. It didn’t stop there.

Now, investors have evaded traditional finance taxes. Do you think governments and financial watchdogs are happy? The crypto market reached record heights in November 2021, and all hell broke loose shortly thereafter. In previous years, crypto issues were limited to a few isolated incidents or an isolated case, such as Mt.Gox.

Nonetheless, 2022 has brought crypto to the blink of extinction. But Bitcoin and other altcoins have fought to survive the greatest crypto winter.  This shows, as put by Mark Cuban that the cryptography is working and the code is secure.  However, the decline of FTX has opened the door to investigation and served as a wake-up call for crypto hitmen.

Crypto hitmen wear unlikely faces

The current market conditions are supported by so many facts you just need to know where to look. There has been a great deal of talk about crypto regulation. These talks intensified after El Salvador adopted Bitcoin as a legal tender. The IMF has called on the nation to abandon the idea if the nation wanted to continue doing business with the entity.

A sovereign nation took the decision, but the U.S. Congress felt compelled to weigh in. Senators have demanded the formation of a commission to oversee the BTC situation in El Salvador. Talking of the U.S. Congress, here is a bummer. Despite The collapse of the FTX, Senators are moving ahead with an SBF-backed bill.

Sam Bankman-Fried was a leading proponent of the bill, which caused friction between him and other industry executives. The bill would provide the Commodity Futures Trading Commission, one of the two U.S. market regulators, with greater authority over crypto markets and exchanges.

For such a long time, regulators have pointed out that they have not regulated the crypto industry. In addition, they have spent the previous few months developing crypto regulatory legislation following the crash of Terra Luna. But how can the ongoing case between the SEC and Ripple be explained?

How can crypto investors classify the most recent fine Kim Kardashian has had to pay for promoting a crypto-scam project? These same regulators, where have they been since the crypto winter began? Why are they aiding crypto exchanges that are filing for bankruptcy? How many cases related to the DeFi sector are hanging in courts?

The lack of regulations is just but an illusion, one that hides the bigger picture. And that is the collapse of a fintech industry, and one government entities can’t control. Crypto hitmen are set to push investors to a breaking point that they distrust the DeFi market. With the current recession and Fed hike rates, this will not be hard to convince investors to stay clear of risky assets.

Florence Muchai

Florence Muchai

Florence is a crypto enthusiast and writer who loves to travel. As a digital nomad, she explores the transformative power of blockchain technology. Her writing reflects the limitless possibilities for humanity to connect and grow.

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