Why is crypto falling

Kristin Smith, executive director of the Blockchain Association, said the stakes are high for the industry come November.  Crypto Greenpeace USA’s investigation exposed a glaring contradiction, as influential figures like Blackrock CEO Larry Fink and JP Morgan Chase CEO Jamie Dimon, who have both denounced Bitcoin and claimed to be climate champions, are now deeply entrenched in substantial Bitcoin investments. At the World Economic Forum in January 2023, Dimon famously mocked cryptocurrency as a “waste of time” and Bitcoin as a “decentralized Ponzi scheme” and a “hyped-up fraud.” That these key players have embraced Bitcoin raises serious concerns about the integrity and seriousness of the financial service industry’s commitment to addressing climate change.

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