Lately, in the news about crypto, there is nothing but courtcase after courtcase where people are desperately trying to exploit the space in scandalous acts of greed. For instance, Craig Wright the self-proclaimed Satoshi is in and out of court in multiple cases concerning crypto seemingly due to him having greed and wanting fame. BitMEX is being sued by the US Government, Coinbase has been dragged through the court system over patents and multiple accusations, and there's a current court case from the united states against XRP. The United States government is also in the midst of attempting to drag its own citizens into court over non-paid taxes on suspected crypto earnings and places like India and China are threatening to outlaw cryptocurrency altogether so the citizens will have no choice but to continue to use government-owned currency.
In my opinion, greed is infiltrating the space of cryptocurrency because when I used to look around I would see innovation and collaboration in the space. Now everywhere I turn I see separation and desperation. A lot of the people entering into the space have major FOMO and they are looking for ways to get rich quick. According to a report made by David Canellis cryptocurrency-related lawsuits are up 300% from last year alone and the US Government is responsible for 30% of them. Furthermore, now that Goldman Sachs is offering Bitcoin derivatives manipulation may come into play as it has in other arenas namely gold. I’m afraid that with the way things are going cryptocurrency is being crippled and Bitcoin may never reach its full potential.
