Thread by @julianhosp

1/10 🧵💡 Why is the US cracking down on #cryptocurrencies, causing significant market volatility. Is the global leader overlooking a trend, or is there a deeper reasoning? 🤔🌐💱 Let's take a look:

2/10 The reasons behind this crackdown are multifaceted 🧩 Critics suggest the U.S.'s primary concern isn't protecting the average investor, contrary to the claims of the @SECGov. #CryptoMarkets #InvestorProtection

3/10 The blooming crypto market, exceeding $2tn in 2021, is pulling capital away from traditional financial systems 🏦 The U.S., among other regulators worldwide, is amplifying its scrutiny of the industry. #Finance #MoneyTalks

4/10 The threat to the local markets and the dominance of the USD seems to be the dominant factor. Is it all about defending the home turf? 💸🛡️🇺🇸 #USDMarket

5/10 Let's compare this to @OpenAI's ChatGPT subscription service. Subscribers derive tangible utility from the service, with legal issues or regional bans causing minimal concern. Is #crypto providing the same? 🤷‍♀️🤖 #ChatGPT

6/10 Many crypto investors speculate on price rather than using the currency for regular transactions. A price drop in services like #ChatGPT is celebrated, yet a dip in #cryptocurrency incites panic. What does this say about its utility? 📉😱💰

7/10 The U.S. perceives minimal risk in the crypto crackdown, given that the market appears more speculative than practical. The initial focus is on exchanges and coins related to ICOs - viewed as potential securities. 🔍⚖️ #CryptoRegulation #ICOs

8/10 It's predicted that the crackdown will increase, affecting every platform and coin, even #Bitcoin. Could the 2024 U.S. presidential election reshape the regulatory landscape? Time will tell. ⏳🇺🇸 #CryptoPolitics

9/10 The key to navigating this evolving landscape is focusing on utility. Coins that offer utility and have avoided ICOs, such as #Ethereum and #DeFiChain, seem like safer bets. Utility = longevity in the market. 🔑📈 #CryptoUtility

10/10 While the future of crypto may be uncertain, one thing is clear - survival hinges on utility. Cryptos need to evolve from speculative assets into tools offering tangible benefits. Only then will they withstand the regulatory storm 🌪️ #CryptoFuture #CryptoTrends

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https://twitter.com/julianhosp/status/1667885508364468227