Fed Governor Waller on Crypto: “The Euphoria Is Fading”

[cryptobro]

Federal Reserve governor Chris Waller says the crypto hype that followed Trump’s election victory is starting to wane as the market becomes more entwined with mainstream finance. Speaking at a conference, Waller noted that much of the early excitement was driven by traditional finance firms entering crypto, which has led to market adjustments as these players manage risk.

Waller also pointed out that Congress’s slow progress on a crypto market structure bill added uncertainty, and brushed off recent price swings as “part of the game” in crypto. Bitcoin, for example, has dropped 45% from its October peak, now trading around $69,500 after briefly dipping below $60,000 last week. His advice? If you don’t like the volatility, “don’t get in it.”

[mendez]

waller: part of the game
me watching btc swing 45%: game over lol

[JanEmil]

Love volatility. Love it most when we go up