OPINION:
Whether we like it or not, cryptocurrency is the future of global finance. The Chinese are pursuing it aggressively, seeking to dominate the marketplace and use the economic power that comes with it to follow through on a threat to create an alternative to the dollar as the global reserve currency.
Think about that when you consider why FTX, formerly the world’s second-largest cryptocurrency company, recently filed for bankruptcy protection — and when you think about whether that means it will remain a viable medium for exchanging assets around the globe.
It will, and not just for the malevolent reasons many of its detractors like to cite. Honest people engaged in totally lawful and aboveboard transactions also use and will continue to use cryptocurrency in their business dealings. Nothing about the fact that former Democratic Party mega-donor and former FTX CEO Sam Bankman-Fried may turn out to be a fraudster of exponentially greater proportion than Bernie Madoff will change that.
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