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Thursday, July 3, 2025

Crypto Is Crashing. It Deserves to. - New York Magazine

If you’re anything but a die-hard observer of the crypto markets, all the crashes, frauds, Ponzi schemes and criminal indictments that have plagued the market during the past six months have been something of a blur. Crypto is volatile, but it lives at the margins of the financial world. In the U.S., at least, traditional markets and the broader economy have never really integrated with digital currencies, and most people don’t use bitcoin or dogecoin or ethereum on a day-to-day basis, like the dollar. When bad news happens, it can feel like hearing about a coup in a country you’re only vaguely aware of. Bad for somebody, sure, but does it affect me? So when bitcoin started to crash over the weekend, then continued to fall below $23,000, its lowest point in 18 months, it might have seemed like just another point of red on the downward continuum, another “crypto winter” that, its advocates will tell you, is part of a natural cycle that strengthens and purifies the market. And maybe...



Read Full Story: https://nymag.com/intelligencer/2022/06/crypto-is-crashing-it-deserves-to.html

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