Comment by nicd
2 hours ago
The crypto economy has about the same market size as a country like Russia, Italy, or Brazil.
A country like Iceland is far smaller, and their currency famously fluctuated in 2008. Would you consider Icelandic króna as money? Most people do.
The crypto economy isn't real, it's a pointless wealth redistribution scheme.
Anyway, that and your question are hardly relevant to the fact that Binance and their cabal own the crypto exchanges and consequently could manipulate the price to reduce the size of their obligation denominated in crypto rather than currency or stable coins.
Define "own the crypto exchanges" here. What percent of transactions in and out of bitcoin and ethereum go through them?