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Crypto Crash ‘Darwinism’, Says Bitcoin Fund Head – Ignites

Collapses of so-called stablecoins, digital tokens that track the price of the US dollar, have raised fears about the overall cryptocurrency market


Yves Choueifaty
Yves Choueifaty, founder of Tobam, said recent events will improve the overall cryptocurrency ecosystem. Photo: Tobam.

 

Crypto is going through a “natural selection” process that will see bitcoin emerge as one of “the fittest”, according to the head of Europe’s first bitcoin fund, Ignites Europe, the Financial Times’ European asset management newsletter, reported.

Collapses of stablecoins – digital tokens that track the price of the US dollar – have raised fears about the crypto market but Yves Choueifaty, founder of Tobam, said the recent events reflect “Darwinism in action”, with the cryptocurrency ecosystem improving as a result.

 

Read the full report: Ignites Europe.

 

 

READ MORE:

Stablecoin Crash That Shook Crypto: All You Need to Know

Stablecoins Could be Safe Haven in ‘Market Distress’, Say Fed Scholars

Myanmar Shadow Government Backs Use of Stablecoin Tether

 

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.

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