"I am no longer a billionaire": the creator of Ethereum recounted his experience with the fall of crypto

The co-founder of the Ethereum blockchain platform, vitalik Buterin, It was no stranger to the cryptocurrency crash that peaked two weeks ago following the crash of TerraUSD and LUNA assets.

Although the market began to recover slowly, many of the investments have already been lost. For example, the founder of the cryptocurrency exchange Binance, Changpeng Zhao, saw more than $80 billion (84% of his wealth) evaporate this yearaccording to the Bloomberg Billionaires Index.

In this framework, Buterin told details about the current situation of his crypto asset portfolio after the global crash: “I am no longer a billionaire“, he wrote this Friday in a publication on the social network Twitter.

However, elsewhere on Friday Buterin reiterated his support for the blockchain asset he helped create and demonstrated confidence in its evolution: “Note to trolls: No, Ethereum was not a mistake.”

Buterin created Ethereum in 2014 and owns a digital wallet that, in November, contained assets for a Approximate value of US$ 1,500 million. Since then the price of the Ether token associated with the blockchain has fallen by 55%, According to data compiled by Bloomberg,

Even so, the beginning of the downward trend given in the main cryptocurrencies since the beginning of the year was not classified as a negative symptom by Buterin. So much so that he said: “People who are deeply interested in cryptocurrencies and especially building them welcome a bear market“.

Christine Lagarde Called for Crypto Regulations: “They Are Not Based on Anything”

The President of the European Central Bank (ECB), Christine Lagarde, said that cryptocurrencies should be regulated to prevent people from speculating on them with your life savings. You worry about people who don’t understand the risks; “that they will lose everything and that they will be terribly disappointed,” he told Dutch television.

Lagarde is skeptical about the value of cryptocurrencies: “My very humble assessment is that It’s worth nothing, it’s not based on anythingthere is no underlying asset that acts as a security anchor,” he said.

The Chronicler – RIPE

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