But the crypto economy is still valued at more than $1tn, and that much wealth doesn’t disappear without causing serious pain in the real world, even if it doesn’t lead to a Lehman Brothers-style moment of banks failing. It could cause, or exacerbate, a recession, or spark a further wave of more conventional problems such as mortgage foreclosures, bankruptcies and insolvencies. Latest cryptocurrency news If everyone stopped using it. That, in five words, is how crypto would go to zero. Still, the journey is more interesting than the destination. The death of ftx, an exchange declared bankrupt on November 11th after a spectacular blow-up, will encourage some people to turn their attention elsewhere. What would have to happen for everyone to give up?
Twitter's chief financial officer Ned Segal said at the end of last year that investing in crypto "doesn't make sense right now", causing concern among Silicon Valley buyers. Crypto investing, the Fidelity way [email protected]
After initially benefiting from a Consumer Price Index (CPI) print which showed inflation slowing beyond expectations in December 2022, crypto and stock prices began to cool as retail data missed expectations and earnings diminished. Latest Meanwhile, Bankman-Fried was making himself out to be an industry savior. The 30-year-old living in the Bahamas was poised to pick up the carnage and consolidate the industry, claiming FTX was in better position than its peers because it stashed away cash, kept overhead low and avoided lending. With a net worth that on paper had swelled to $17 billion, he personally bought a 7.6% stake in Robinhood.
You can be left with less money than you put in, and could even lose it all - even if you spend on what appears to be a safe bet. Crypto News: Government Releases Token Mapping Paper Thomson Reuters