Opera Co-founder: "Cryptocurrency should have been banned long ago"...Why?

▲ Cryptocurrency ban, Bitcoin (BTC), Ethereum (ETH), Solana (SOL)/AI generated image

Opera's co-founder criticized the cryptocurrency industry's political influence head-on, stating that "cryptocurrencies should have been banned."

According to the cryptocurrency media outlet U.Today on September 13 (local time), Jon von Tetzchner, co-founder of Opera and CEO of Vivaldi, argued that cryptocurrencies should have been banned. He stated, "A lack of regulation comes at a price."

The issue Tetzchner raised was political influence. He claimed that cryptocurrency companies with vast funds exert influence in political circles. He also pointed out that the practice of using user information for advertisements and content algorithms should have been banned in the past.

This is not Tetzchner's first criticism of cryptocurrencies. In January 2022, he criticized cryptocurrencies as "pyramid schemes disguised as currency." He also cited extreme volatility and Bitcoin's high energy consumption as problems. He questioned whether they have any useful real-world applications.

Vivaldi has also maintained its stance against integrating cryptocurrency wallets into its browser. Tetzchner argued that adding wallets could encourage users to participate in an area that is "at best gambling and at worst a scam." In contrast, Opera, which he co-founded, has actively expanded its Web3 and cryptocurrency features.

Tetzchner has also been critical of the spread of AI. Vivaldi announced that it would not include generative AI features such as large language model chatbots and automatic summarization in its browser. Currently, Vivaldi has over 4.2 million active users and over 2.5 million community members.

[Article Summary]

-Opera co-founder Jon von Tetzchner argued that "cryptocurrencies should have been banned."

-Tetzchner pointed to the political influence of well-funded cryptocurrency companies as a major problem.

-Vivaldi maintains a negative stance not only on integrating cryptocurrency wallets but also on generative AI features into its browser.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*