The CEO of Solana is confident that there are no bubbles in the digital currency market, and in the US, crypto assets are considered “shadow banks”

Solana CEO is confident that there are no bubbles in the cryptocurrency market today

Solana CEO Anatoly Yakovenko believes that currently there are no bubbles in the crypto market. It is noteworthy that the growth rate of the SOL rate is significantly higher than that of most digital currencies.

Over the past month, Solana’s price has tripled. Some crypto enthusiasts believe in the further growth of this token.

“Now is a completely different time and it is not worth comparing the current situation with a bubble. In 2017, the bubble quickly inflated and quickly burst, but since then three years have passed and all this time people have been working, creating various solutions and projects. Now is the time when we have created the infrastructure so that new engineers and developers quickly “merge” into the ecosystem,” Yakovenko believes.

US Senator: cryptocurrencies are the new shadow banks

Massachusetts Senator Elizabeth Warren continues to criticize the crypto industry and urges regulators to take control of projects related to digital assets. This is stated in a series of public letters between Senator, SEC head Gary Gensler and Treasury Secretary Janet Yellen.

Warren previously called on Yellen for a “coordinated and consistent regulatory strategy to mitigate the growing risks that cryptocurrencies pose to the financial system.” In her address, the senator pointed out that “some” digital currencies are very volatile, and the unpredictability of their rate movements can provoke financial instability.

Warren is actively promoting the initiative to “ban the holding of cash deposits that provide stablecoins in the United States.” She is confident that this could slow down the market boom and reduce interest in such assets.

“Crypto is the new shadow bank. It provides many of the same services, but without the consumer protections or financial stability that back up the traditional system. It’s like spinning straw into gold,” Warren said.

Retail network Grupo Elektra will start accepting cryptocurrencies

Mexican entrepreneur and owner of Grupo Elektra retailer Ricardo Salinas Pliego made a statement that the retailer intends to add support for the Lightning Network to accept payments in BTC.

According to the businessman, this will happen very soon. It is likely that in the future, other companies of the holding will add support for the first crypto coin.

Pliego has previously made statements in support of bitcoin. Last autumn, he announced that he had invested 10% of his own “liquid investment portfolio” in BTC.