Another Billionaire Invests In Crypto, Regulators Sound The Alarm

Dan Loeb, another billionaire invests on crypto according to the tweets yesterday where we can see that he is “looking into” the crypto sector and assessing the various opportunities that It provides so let’s read more in our latest cryptocurrency news.

Separate instances saw another billionaire invest and embrace the crypto sector, as the head of Third Point, the New York-based hedge fund said he is looking into crypto. Loeb is famous for turning $3 million into a $17.5 billion hedge fund in a few years and he commented:

 “I’ve been doing a deep dive into crypto lately. Culturally I compare bridging the crypto world with the old as akin to finding a portal between two distinct worlds in the multiverse.”

NFTs and a Thousand True Fans https://t.co/III9SMl75X pic.twitter.com/lwzbQMknoL

— Chris Dixon (@cdixon) February 27, 2021

The fund manager said that maintaining skeptical about crypto is required alongside deepening the understanding of crypto and stated that doing this called for engaging in what seems to be a requisite for superior intellect:

 “to maintain two opposed ideas in one’s mind and retain the ability to function.”

Loeb added that there are other conflicts to overcome the idea of being late to the crypto party as this is a reference to the asset hitting $1 trillion in value and finding a wide array of investors:

 “Another conflict to overcome is the idea that being late to the crypto party will inevitably lead to one taking the sucker seat at a high stakes poker table versus this still being early days in what is just now being adopted in the mainstream.”

I’ve been doing a deep dive into crypto lately. It is a real test of being intellectually open to new and controversial ideas. Culturally I compare bridging the crypto world with the old as akin to finding a portal @chbetween two distinct worlds in the multiverse. https://t.co/LqWwfIxOyd

— Daniel S. Loeb (@DanielSLoeb1) March 1, 2021

Dan Loeb is the latest billionaire to step into the crypto sector and the New York regulator already sounded the alarm about the crypto space. The NYAG Letitia James already advised members of the crypto industry and investors to stay vigilant when participating in illegal activities or activities regarding crypto. James issued two alerts already in response to the risk posed to the people of New York investing in crypto. She added that the businessmen could face both criminal liability and civil one if they don’t fulfill their obligations regarding registration with the New York state when doing business with virtual currencies:

 “Too often, greedy industry players take unnecessary risks with investors’ money, but, today, we’re leveling the playing field and issuing alerts to both investors and industry members across the nation.”