A panic selling caused by insanity

The cryptos are under attack by the SEC: the two biggest crypto companies, Biance and Coinbase were sued by the SEC in the past two days. There have been some panic selling. While it feels like a big concern for cryptos' future, I have no worry at all. Cryptos as a whole, especially the major ones like Bitcoin and Ether, are a big elephant in the room, too big to be killed. As a matter of fact, nearly all the other major countries have developed favorable regulations for them. For example, in Europe, finance ministers recently approved the Markets in Crypto Assets regulations (MiCA). It provides guidelines for cryptocurrency exchanges and wallet providers in the European Union. The regulations will take effect next year in the world’s third-largest economy, with a GDP of $16.6 trillion.  The current US government is simply too stupid to try to kill them. When the country is headed by a fake president with only half brain without knowing what's going on, can you expect those beneath him will behave rationally? No one with sanity is believing what the SEC is doing will really bring down the sector in the long run. That's why all the major financial companies are doing one way or the other to build up their blockchain and crypto business. My son is currently a senior manager in a well established crypto company and he told me they have recently signed some big contracts with big guys like Fidelity and BlackRock for their blockchain/crypto business. So to me the future is quite bright for cryptos! ✊👍