The government is creating a bottleneck for on/off ramps for crypto markets by making it very difficult for companies like Coinbase to be approved. This has given Coinbase monopoly status in the space.
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The government is creating a bottleneck for on/off ramps for crypto markets by making it very difficult for companies like Coinbase to be approved. This has given Coinbase monopoly status in the space.
Yep, very much this. Wonder if that will change in the future?
Last fall Novogratz mentioned in an interview on CNBC that even though he got into ETH in the single digits he wished he could have gotten a piece of an exchange like Coinbase or Bitconnect! Ha ha seriously! With their monopoly on fiat conversion Coinbase is profiting just like a Ponzi scheme. And with the US government too big fail to fail probably does not apply for crypto. I think the sideways market is good for the time being because it allows more crypto infrastructure to be created and gives a false comfort to the enemies that it can be controlled.