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Source: @CNBC
Gary Gensler Says Bitcoin Is "Not That Decentralized’'
🔵 In a new interview on CNBC, #Gensler says #Bitcoin (BTC) isn't as #decentralized as commonly believed, citing centralized #crypto exchanges as a factor.
🔵 Gensler argues that Bitcoin's decentralization should not be solely attributed to its availability on various exchanges but rather to its underlying blockchain technology.
🔵 Gensler echoes sentiments from JPMorgan CEO Jamie Dimon, asserting that BTC is often used in #ransomware attacks.
🔵 He emphasizes the difference between traditional currencies like the US dollar, euro, and yen, which have #centralized support, and Bitcoin, which lacks such backing. Gensler suggests that Bitcoin's transparent ledger might mislead investors about its decentralization.
#Cryptocurrency #Blockchain #CryptoNews
Gary Gensler Says Bitcoin Is "Not That Decentralized’'
🔵 In a new interview on CNBC, #Gensler says #Bitcoin (BTC) isn't as #decentralized as commonly believed, citing centralized #crypto exchanges as a factor.
🔵 Gensler argues that Bitcoin's decentralization should not be solely attributed to its availability on various exchanges but rather to its underlying blockchain technology.
🔵 Gensler echoes sentiments from JPMorgan CEO Jamie Dimon, asserting that BTC is often used in #ransomware attacks.
🔵 He emphasizes the difference between traditional currencies like the US dollar, euro, and yen, which have #centralized support, and Bitcoin, which lacks such backing. Gensler suggests that Bitcoin's transparent ledger might mislead investors about its decentralization.
#Cryptocurrency #Blockchain #CryptoNews