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Criticism of Tether: Wolf of Wall Street Belfort rt to strict Bitcoin regulation – to increase the price | news




Jordan Belfort criticizes Tether
Bullish for Bitcoin and Etherum
Stronger regulation required

Former stock broker Jordan Belfort, whose life dominated by parties, drugs and luxury was filmed with Leonardo DiCaprio in the lead role (“The Wolf of Wall Street”), has again described Tether as a fraud in an interview with “Coindesk”. The stablecoin, which was recently targeted by the US financial authorities, has been suspected for years that it was not fully covered by reserves as promised. Belfort, for example, has been warning of problems at Tether since 2017.

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Regulation of cryptocurrencies

In this context, the notorious stock exchange expert has spoken out in favor of massive regulation of cryptocurrencies. He considers the fear of such interventions, which had repeatedly weighed on the prices of crypto money, to be unfounded.

“I’m a long-term crypto bull and I think the sooner the market is massively regulated, the better for Bitcoin, stablecoins and everyone else. In my opinion, people are afraid of regulation, but they shouldn’t. If you’re in the If you look back on history, it turns out that every young market became much bigger after the regulators stepped in, “explained Belfort during the interview.

The ex-stockbroker believes that Bitcoin and stablecoins should benefit from more stringent regulations. So it was ultimately also with junk bonds, whose market has grown strongly thanks to its regulation.

Unrealistic price targets for Bitcoin, Ethereum & Co.

That Belfort is not an opponent of crypto currencies is already clear from the fact that he owns Bitcoin and Ethereum himself, as he says. Although he also expects a strong development for these two, he considers the extremely bullish price targets of some analysts to be unrealistic. Belfort, who earned his living as a sales trainer and motivational speaker after verbing a 22-month prison sentence for securities fraud and money laundering, sees Bitcoin at $ 45,000 to $ 70,000 and Ethereum at $ 3,700 to $ 4,500 at the end of the year.

Finanzen.net editorial team

Image Sources: Michael Loccisano / Getty Images, Godlikeart / Shutterstock.com


Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.
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