According to Billionaire Bill Ackman, the crypto industry needs a security layer that can protect it from overall regulation and bad analysts, where he said that bad actors and regulators in the crypto industry need more resources and practices to prepare. It will take much longer. In a wide series of tweets, he specifically emphasized that the current conditions are not good for the crypto industry or that crypto is not fully prepared to meet the challenges at this time, where he shared his thoughts on all these topics and his Reaction of the person towards them.
By profession, Ackman is the CEO and portfolio manager of Pershing Square Capital Management, an investment advisor registered with the U.S. Securities and Exchange Commission. We can get the best information and on the basis of that we will be able to take our further decision. With his current net worth of 3.5 billion dollars, he is counted among the top billionaires. Wherein in his address he said that he is not sure that we need new rules because most of the frauds are happening in our system itself where our system is being crushed on the basis of old and slanderous system so that we fail to save our system. And not being able to protect the properties of the customers and not being able to give them the best returns is our biggest mistake which is also our failure and on which we are not able to work. Says further that he is sure and still suspects that the anti-fraud that is happening now and other laws are already violating all the rules and the system is already not getting right while the new rules will confuse whom more And instead of removing the failure of the old rules, we will start making the new rule successful. According to him, it is absolutely wrong that we do not learn from our mistakes and trust the upcoming system. We need a change in our own self made policies. While the crypto exchange earlier this month has invited many to share their views on tighter crypto regulation due to the FTX collapse.
Some, including Mark Cuban and Robert Kiyosaki, have insisted that the FTX meltdown was not involved in nor had anything to do with the crypto failures. The same is not the one US Congressman Tom Emmer says is a failure of the SEC, Chairman Gary Gensler, FTX co-founder Sam Bankman-Fried and centralized finance. The billionaire further adds that crypto is now in the wildest where security propositions have non-existent security features so it is extremely important to track and trace management team members and reputation to choose business sponsors and support functions. Where last week he tweeted that the crypto industry is fully responsible and right to thrive, with oversight and regulation it will create an even more beneficial system for society where our economy has the potential and aims to reach. He also said that all kinds of good participants in the crypto ecosystem should be exposed and bad participants should be shown the way out as they increase the interference too much which leads to risk and not positive results of crypto for generations. Come, if that negative environment will be out then only the positive energy will be able to work dedicatedly towards the industry.
Overall, he wants to tell that there is an urgent need to keep negative people and negative thinking people out in order to speed up the crypto industry, so that the industry will grow further and doors of new possibilities will open, for this it is necessary that we Let only and only positive environment come towards this industry and take crypto industries to the best heights by investing.
