The aftermath of the cryptocurrency crash : Planet Cash : NPR

The aftermath of the cryptocurrency crash : Planet Cash : NPR

JACK GUEZ/AFP by way of Getty Photographs

A picture taken on February 6, 2018 shows a visual representation of the digital crypto-currency Bitcoin, at the "Bitcoin Change" shop in the Israeli city of Tel Aviv. (Photo by JACK GUEZ / AFP) (Photo by JACK GUEZ/AFP via Getty Images)

JACK GUEZ/AFP by way of Getty Photographs

Follow to be the fall/iciness 2022 intern for Planet Cash and The Indicator.

How instances alternate. A 12 months in the past, cryptocurrency gave the impression to be creating a mainstream step forward. As crypto made its method into retirement portfolios, famous person TV advertisements offered it as a future-proof funding, costs soared, fortunes had been made… after which misplaced.

That each one modified in 2022. Following a sequence of screw ups amongst top profile crypto lenders and questions in regards to the trade’s underlying viability, crypto has entered a endure marketplace (dubbed “crytpo iciness” via traders) that has, to this point, erased just about 5 years of Bitcoin positive factors. In only some quick months, most of the retail traders who purchased cryptocurrencies have noticed their investments disappear virtually in a single day.

Does it topic to the remainder of the financial system? Can this crash unfold?

On lately’s display, we carry you two tales from crypto iciness’s entrance strains from Planet Cash’s The Indicator. We’re going to assess the wear from the crypto cave in for each person traders and the broader marketplace. And we pay attention about why crypto held such attract for Black traders particularly.

Track: Funky Intentions, Sunny Summer season Pores and skin, & Monschau

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