Cardano founder and industry leaders celebrate the fall of banks

Based on recent reports, Cardano’s founders and other key opinion leaders within crypto are celebrating the current banking crisis. 

A crisis continues to haunt regional banks as First Republic Bank took a fall and needed rescuing. Several other banking networks recorded severe stock dips. The recent failure of banking networks has triggered celebrations from some KOL within the crypto space. 

On May 2, through Twitter, Cardano’s founder Charles Hoskinson was seen to be celebrating the fall of the banking system. Hoskinson tweeted, “If only we had a different way to run a banking system…if only we had a different kind of money.”

The Cardano founder also added a celebratory GIF that said, “It is happening,” seemingly enjoying the banking problem. Moreover, Cardano’s founder tweeted a picture of banks, with a large red X indicating the fallen ones, including Signature Bank, First Republic Bank, Credit Suisse, Silicon Valley Bank, and Silvergate Bank.

The Cardano founder was also later engaged in a Fox Business interview where he discussed the state of crypto, the bank crisis, and many more issues.

This is not the only crypto enthusiast following the fall of the banking system. Benjamin Cowen, the founder of ITC Crypto, tweeted about the failure of some banks, highlighting the drop of PacWest Bancorp Stock plunging by about 32%. Cowen asked, “Remember when they said the banking crisis was over?”

Michael Sayloy, a key figure in crypto, has also spoken about the fall of banks and crypto. On May 2, when several banks seemingly recorded plunges, Michael Saylor tweeted, “Be your own bank.” Under Saylor’s tweet was a picture of a card with the words ‘Be your own bank’ in front of the First Republic Bank.

Furthermore, moments Later, Michael Saylor was in a conversation on CNBC Exclusive, where he mentioned that bitcoin adoption is increasing as confidence in fiat and banks continually plunge.

Lark Davies, a bitcoin enthusiast, followed crypto’s and BTC’s performance as the banks recorded falls. 

Bitcoin transactions hit an all-time high on the same day that a major US bank collapsed. That is some cosmic poetry right there. pic.twitter.com/ZFtQPSZWpH

— Lark Davis (@TheCryptoLark) May 3, 2023

He noted that BTC hit a transactional all-time high as the banks collapsed. His tweet ends by stating that this event is poetic.