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The Prosecutor General of New York calls the cryptocurrency market very unpredictable and unstable.
Letitia James, who is New York’s attorney general, has issued her warnings about digital assets. She noted the extreme unpredictability and instability of the crypto market, reports news.bitcoin. In addition, James noted that in May, the crypto market “reached a record low level.”
This week, a message appeared on the Twitter account of the New York Prosecutor General’s Office that today the digital asset market is very unpredictable, and in May it reached extremely low rates, depriving depositors of large sums.
Attorney General James noted that New Yorkers should think twice before investing their own savings in such an unstable market.
In 2021, James has already closed the Coinseed crypto platform and put forward some measures against 2 crypto lending platforms.
And although such warnings from the prosecutor’s office followed after a series of red charts in the digital asset market, still many users were outraged, since today the first cryptocurrency is traded at $ 30,203, which is 3.1% higher than 7 days ago, albeit 19.9% lower than 30 days ago.
After the fall of the crypto market, as well as the collapse of Terra (LUNA) and the Terrausd (UST) stablecoin, representatives and influencers of many countries expressed their warnings and worries. So, the chairman of the SEC, Gary Gensler, also stated that many crypto assets will soon fail.
The same opinion was voiced this week by the Deputy Prime Minister of Singapore, who advised some investors to stay away from digital assets.
The governor of the Bank of England, Andrew Bailey, who recently voiced his opinion that Bitcoin has no intrinsic value and cannot be considered a practical means of payment, did not stand aside.
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