'Crypto is worth nothing,' says the European Central Bank's president. The comments didn't go unnoticed, triggering a response from the crypto community. Notably, sheila_warren said she was disappointed but not surprised.
The crypto community has fired back at European Central Bank President Christine Lagarde for her recent anti-crypto remarks, with people expressing disappointment and even criticizing the euro.the world of her stance on cryptocurrencies. According to her, cryptocurrencies are “worth nothing” because the assets are “based on nothing.” Additionally, she expressed concerns for those who invest in crypto and called for regulation.
Responding to these comments, the crypto community expressed their sentiments. Sheila Warren, CEO of the Crypto Council for Innovation,that she’s disappointed, but not surprised, to hear these comments. According to Warren, the “new digital economy will run on a combination of digital currencies, including crypto, stablecoins and CBDCs [central bank digital currencies].”
Meanwhile, crypto analyst Lark Davis took the opportunity to react to Lagarde’s remarks. Quoting the ECB president, Davis tweeted that instead of describing crypto, she just “described the $euro” because it’s “printed out of thin air.”] is worth nothing, it is based on nothing—there is no underlying asset to act as an anchor of safety.”
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