### Charles Hoskinson, founder of Cardano, has called on the cryptocurrency industry to distance itself from the volatile and unstable financial sector, particularly the banking industry. His remarks come in the wake of recent regulatory action in the United States that has led to the closure of three major financial institutions, causing a significant financial impact on businesses with a direct connection to cryptocurrencies.

Hoskinson has long been an advocate for decentralized finance and digital currencies, arguing that they offer a safer and more stable alternative to traditional banking. He said that once "we can digitize treasuries," it will be "game over" for financial institutions. Hoskinson's comments highlight the growing divide between the crypto and banking sectors, with many in the industry seeing the latter as a relic of the past.


<blockquote className="twitter-tweet"><p lang="en" dir="ltr">Crypto needs to de-risk itself from those unstable and volatile banks</p>— Charles Hoskinson (@IOHK_Charles) <a href="https://twitter.com/IOHK_Charles/status/1635820823935086594?ref_src=twsrc%5Etfw">March 15, 2023</a></blockquote> 



Despite this, governments continue to be skeptical of the cryptocurrency indsutry, even if the traditional banking system is in a state of disarray. Hoskinson thinks that governments would likely continue to view digital currencies as posing an extremely high risk, despite the recent failure of a large number of banks.



Nevertheless, the crypto industry continues to grow and evolve, with more and more investors and businesses seeing the potential benefits of blockchain technology. Hoskinson's call for the industry to distance itself from banks may be controversial, but it highlights the need for the crypto sector to define itself and set itself apart from traditional finance. As the digital currency revolution continues to gather pace, it will be interesting to see how the industry adapts to the challenges ahead.


Charles Hoskinson, founder of Cardano, has called on the cryptocurrency industry to distance itself from the volatile and unstable financial sector, particularly the banking industry. His remarks come in the wake of recent regulatory action in the United States that has led to the closure of three major financial institutions, causing a significant financial impact on businesses with a direct connection to cryptocurrencies.

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