Charles Hoskinson, the creator of Cardano (ADA), has some hours ago pointed out that cryptocurrency is going to eat the banks rather than disappearing.
Hoskinson said this in reaction to the complaint of a Cardano enthusiast, who was prevented from purchasing the digital token ADA by his bank.
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According to the user, he attempted to buy Cardano (ADA) at Binance exchange but was barred by his bank, citing customers’ protection due to high levels of crypto-related financial crime.
The user tweeted, “Now the banks do not want us swapping fiat for crypto. They’re doing all they can to prevent us making more returns on our investments. I only want to buy more Cardano.”
Below is the Bank’s response:
“To protect our customers we have temporarily suspended payments to cryptocurrency exchanges, having observed high levels of suspected financial crime with such payments. We are sorry that we cannot proceed with these payments.”
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The action of the bank looked ridiculous to many respondents as banks seem to be taking over the investment decisions of their clients.
Charles Hoskinson Responds
The creator of Cardano (ADA), who retweeted the user’s post to bring it closer to the view of the public with his follower capacity, said the fact that we own our money and can spend it how we like will make cryptocurrency stay around and make banks disappear.
Charles Hoskinson tweeted, “Why crypto isn’t going anyway and going to eat the banks. Newsflash banksters, it’s our money. We can spend it how we fucking like.”
Why crypto isn't going anyway and going to eat the banks. Newsflash banksters, it's our money. We can spend it how we fucking like https://t.co/1bXarENhOX
— Charles Hoskinson (@IOHK_Charles) May 22, 2021
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Billionaire David Rubenstein Says Cryptocurrencies Are Here To Stay
In relation to the subject matter, David Rubenstein, an American billionaire businessman and philanthropist, has also stated that cryptocurrency has come to stay.
In an interview on CNBC’s Squawk Box, Rubenstein dismissed the suggestions claiming that the crypto market is a fad and could fade away in the future. He said crypto is not going away, just like gold is not going away.
David Rubenstein noted:
“It has its ups and downs, and yesterday was not a good day. that’s true of anything that is relatively new, and I don’t think you’re going to see anything like crypto going away and disappearing. It’s here.”
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