CCP Demonizes Cryptocurrency and Advocates a Centralized Digital Currency of State Monopoly

According to previous reports, the fundamental problem of FTX’s failure, its ‘original sin’ – misappropriation of customer funds. As panicked customers scrambled to withdraw funds, only the ’emptied capital pool’ of FTX was finally ‘slayed’ by the CCP’s ‘capital trap’. The CCP is planning on the intensified implementation of the state monopolized DCEP by demonizing the ones on the free market.

 FTX, last week admitted that it did not have enough funds to meet $ 5 billion withdrawal demands from investors. On Nov 11, it filed for bankruptcy.

 According to previous reports, FTX’s failure was caused by two reasons; one is being “trapped” and “slayed” by the Chinese Communist Party (CCP)’s capital when there is “”bad news”” circulating the “”sensitive”” market, secondly, which is FTX’ fundamental problem, its “”original sin”” – misappropriation of customers funds.

 Miles Guo, the founder of the New Federal State of China, and the honorable consultant of Himalaya Exchange, commented that the other cryptocurrencies’ “original sin”, such as misappropriating customer funds, is the fundamental difference between HCoin with all the other cryptos. At Himalaya Exchange, the customers’ funds will never be misappropriated. As currently, almost all the countries in the world have been working on regulations of cryptocurrency, and only the ones complying with the regulation will survive in the long run. Unfortunately, the current 9000 cryptocurrencies in the world might only have a 1 out of 1000 survival rate.

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Translator: OxfordGNews
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