Traders tempted to invest in cryptocurrencies such as bitcoin contingency lift the weight of responsibility, according to the CEO of a heading cryptocurrency exchange.
“I think eventually consumers need to look out for themselves, look into the fundamentals of any silver and not rest on any sold sell to strengthen them from marketplace volatility,” Jesse Powell, owner and CEO of Kraken, told CNBC on Tuesday.
Speaking at the World Government Summit in Dubai, Powell pronounced Kraken conducted a “thorough” analysis routine to safeguard every digital silver available on the San Francisco-based sell was “almost positively not a scam.”
“We make no promises about the destiny of any coin, things can change when you lift $1 billion in 10 minutes,” he said.
‘Declaration of financial independence’
On Monday, European Union regulators warned cryptocurrencies were unsuited investments and should be noticed as “highly risky” assets.
The European Supervisory Authorities (ESAs) for securities, banking and word and pensions pronounced in a corner matter that the flighty inlet of cryptocurrencies was display “clear signs of a pricing bubble.”
Elsewhere, billionaire financier Warren Buffett warned last month that the new disturb over bitcoin and other cryptocurrencies would almost positively end badly. And, before walking back on his progressing criticisms at the start of the year, J.P. Morgan Chase Chairman and CEO Jamie Dimon formerly described bitcoin as “fraud.”
When asked either cryptocurrency traders should take the views of such seasoned investors seriously, Nick Spanos, CEO of Blockchain Technologies Corporation, replied: “Warren Buffett is good at renting seat and whatever other businesses that he does, but we are in a different business,”
“I trust cryptocurrency is the people’s stipulation of financial independence,” he pronounced on the same row at the World Government Summit.