The Crypto Industry Got Everything It Wanted, Now It’s Falling Apart!
The cryptocurrency industry has come a long way in just 16 years. Its market value has surged past $3 trillion, and it’s garnered the attention of lawmakers, including the president of the United States. However, despite its success, the industry remains deeply divided, with key players fighting among themselves.
Crypto: A Fragmented Powerhouse
While the crypto world continues to grow, those within it are often more focused on infighting than unity. The industry is a mix of grifters looking to make a quick profit, idealists hoping for a new era of capitalism, and the tech entrepreneurs building the platforms that make it all possible. Despite sharing a common love for crypto, their differing visions lead to constant bickering.
“They all hate each other,” says investor Nic Carter, summarizing the crypto industry’s internal struggles. Despite their differences, one thing unites them: a deep disdain for outsiders.
The GENIUS Act: A Divisive Legislation
At the heart of the industry’s current chaos is the GENIUS Act, a bill designed to regulate “stablecoins” — digital currencies tied to real-world assets like the US dollar. The bill has sparked heated debate, as various factions within the industry fight over who will benefit most from its passage. Some fear it could harm their profits, especially by restricting international access to US treasury securities.
The Road Ahead: Can Crypto Find Unity?
The future of remains uncertain. Infighting continues, even as leaders meet at the White House for a summit to try to resolve the industry’s issues. If they fail to find common ground, there’s a real risk that the industry could lose its newfound influence, especially if Trump decides to cut ties.
