It should be noted that criticism of cryptocurrency and participants in this industry has been plentiful of late. The most recent example is comments by Dogecoin developer Jackson Palmer. The day before he said that big cryptocurrency investors allegedly really want to control what’s going on in the industry. That’s why they are stockpiling coins for further manipulation.

However, billionaire and Shark Tank financial show host Mark Cuban disagreed with this view. He noted that he is still interested in the coin industry and wants to make it more popular.

Billionaire Mark Cuban

How to save money from inflation

Pierre Poilevre won 68.15 per cent of the vote in the election for the next leader of the Conservative Party of Canada, which is the official opposition to the incumbent Liberal Party led by Justin Trudeau. Poilevre is a supporter of cryptocurrencies, having previously promised to turn Canada into the “blockchain capital of the world”. The politician seeks to create new jobs in the Web3 sector, and is pushing initiatives to support more efficient financial instruments.

Opposition politician Pierre Poilevre

According to Cointelegraph sources, in some of his past interviews, Poilevre has claimed that the government is “hurting the Canadian dollar” and that Canadians should allegedly consider other forms of cryptocurrency-type money. Apparently, this part of the opposition’s campaign didn’t like Trudeau, because he posted the following note on his Twitter.

Telling people they can shelter themselves from inflation by investing in cryptocurrencies is irresponsible leadership. Fighting against life-saving vaccines is irresponsible leadership. Opposing support for fighting a pandemic that saved jobs and helped families is also irresponsible leadership.

Canadian Prime Minister Justin Trudeau

Recall that earlier this year, the Canadian government invoked the Emergency Situations Act for the first time amid a protest by truckers in the country. Trudeau, by the way, was involved in bills that prevented funding for protesters, including in cryptocurrencies. A group of cryptocurrency wallets involved in crypto donations have been frozen by exchanges, which are centralised bodies that can be influenced by a certain country’s government.

Read also: Governments continue to confiscate cryptocurrencies. How is this happening?

Meanwhile, a group of investment giants, including Charles Schwab Corporation and Fidelity Digital Assets, have announced the launch of a new cryptocurrency exchange called EDX Markets. It will be “a first-of-its-kind trading platform” that will give investors “safer, faster and more efficient access to cryptocurrency trading. The project is being developed using technology used by The Members Exchange (MEMX).

Other sponsors of the initiative include Citadel Securities, Paradigm, Sequoia Capital and Virtu Financial. Once launched, EDXM is expected to be partnered with major investment institutions and former Citadel Securities top manager Jamil Nazarali will lead the exchange as CEO. The launch of the crypto platform was commented on by a Fidelity spokesperson.

The consortium aims to create a market infrastructure that promotes liquidity options to facilitate a more efficient, secure and cost-effective trading process for digital assets.

Crypto trading becomes even more accessible to big investors

The crypto industry has long been considered difficult for both individual and institutional investors, i.e. professionals, to accept. The safe custody of digital assets on centralised platforms has been particularly questionable. EDXM will serve clients with varying amounts of capital, providing them with a “safe entry point” into the crypto-sphere.


This is very good news in the long run. But its effect will only show up in the next bullrun: the exchange could very well become a great channel for big capital to flow into the industry. In the meantime, the fall in the digital asset niche is being driven by a bad macroeconomic situation, whose changes are also affecting crypto.

We believe that such criticism of cryptocurrencies from Trudeau - albeit indirect - will prove to be a failure after a few years. Yes, coins do have a knack for collapsing in value, but along with that they are also able to bring in X's for their investors who get into positions too early or already after a collapse. Such statements are therefore irresponsible to a society in which everyone has the right to make his or her own financial decisions and be responsible for their consequences.


You can find out about other interesting news in our millionaires’ cryptochat. We will discuss other important news from the blockchain world there as well.