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The Cardano founder, Charles Hoskinson, recently commented on banks and cryptocurrencies. Hoskinson is also a co-founder of Ethereum. He took to his Twitter page to sarcastically address how banks in the US ban crypto trading for their clients.

Banks Popularize Crypto

As a case study, Hoskinson examined Kanye West. He had his JP Morgan account closed last week.

In his entire position, Hoskinson revealed why crypto might not worry about marketing, after all. This, according to him, addresses the question which always confronted him from the crypto community. People wonder why crypto companies with their own coins don’t have good marketing strategies.

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Hoskinson is of the view that crypto users are better shilled by US banks. He posted an image of Kanye West who wore a face cap with an inscription saying “Satoshi Nakamoto.” 

Hoskinson’s information on the image claims the rapper is now a Bitcoin enthusiast. This allegedly follows the termination of a customer service contract by JP Morgan. The rapper’s account with the banking giant was also closed.

Before that, the social media behemoths, Instagram and Twitter, also suspended the rapper’s accounts. It was based on allegations that he posted anti-semitic conspiracy opinions.

Note that the Bank of America has become notable for closing the account of crypto campaigners. Kanye West happens to be known also for his crypto advocacy. He is an advocate of Bitcoin in particular.

West’s Investments

A media report on the 1st of June stated that West sent 17 applications to begin minting branded NFTs. But West earlier stated during winter that he would not deal in NFTs.

The media earlier reported that big banks in the US closed accounts belonging to Justin Sun. Sun is the founder and the former CEO of Tron. The banks also closed accounts belonging to Roelof Botha, a former PayPal executive.

TechCrunch founder, Michael Arrington, suggested that Botha’s accounts were closed because he bought Bitcoin. Crypto investors in the US have had to look over their shoulders since then.

However, the US is working on laws to regulate the crypto space and protect investors. A bill is being worked on at the US Congress to that effect.

The same goes for several other countries across the globe. Rather than banning it out rightly, crypto is coming under the clear scope of regulators.

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Alicia Maher

By Alicia Maher

Alicia Maher is an accomplished news writer with a passion for storytelling. With years of experience in the field, she is skilled at delivering accurate, engaging, and insightful news coverage to her audience.