Encryption is anything but strong now

After more than a year, the freeze of a deep crypto winter has melted. Bitcoin prices have rose to new heightsventure capital firms are raising funds to invest in cryptocurrency startups, and jubilant crypto bros are back to mocking skeptics with the words “have fun staying poor.” Once again, people investing millions of dollars in memecoins that depict dogs in knitted hats or drooling sloths in cartoons are being described as the smart money. When sloth coin developer Slerf accidentally destroyed $10 million of the funds he raised from early buyersthe attention only fueled a massive increase in trading volume – worth $2.7 billion in 24 hours.

This speculative mania is familiar to veterans of the last crypto boom, from 2021 to 2022. Instead of “the metaverse,” everyone now just says “AI.” What is new is a semblance of normality, a makeover of reputation. While the average crypto fan of the last boom spoke in terms of Lamborghinis It is get rich quick schemesthe industry’s new spokespeople are CEOs in suits who focus on regulatory compliance, politicians whose favorite word is “innovation,” and traditional financial institutions launching cryptocurrencies as a solid way to diversify your portfolio. The problem for the rest of us is that the crypto markets continue to be rife with manipulation and fraud.

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