Besides goods and services, cheap Federal Reserve money and near-zero interest rates also caused inflation in a wide range of asset and speculative prices
That bubble is being deflated.
Smells like more FTX fallout.
Now we’re going to see all kinds of polls to regulate bitcoin, and other crypto’s. Then the feds will roll out their own US government digital that in an or will Jan twist, they will call “crypto”. A crypto that they can control every transaction you make, see every transaction you make, or simply suck it out of your account, or give it an expiration date, restrict what you can and cannot do with it. You know… Crypto.
Almost like it was a plan or something for FTX to do its thing. Steal billions from unwitting people, and provide a justification for a federal takeover of the currency with the police state money item.
Voice to text. That should’ve been in an Orwellian twist
FTX is the tip of the iceberg. This goes so much deeper. It’s going to get very ugly. Repeat after me: No bailouts.
People who get involved in crypto deserve what happens to them. The world’s greatest ever ponzi scheme.
Provident wasn’t very provident.
“Crypto” is a very risky investment. They should have know that.
People who buy things that have no inherent value (such as crypto currencies or democrat programs) get what they deserve.
Invest in a ponzi scheme and you will eventually get caught in it.
That’s what you get when you mindlessly chase the yield curve!
I’ve done business in the past with Provident...
They earned this loss.. not a bit of sympathy from me.
Well, that isn’t going to be covered by the FDIC.
If you are mining Bitcoin, and it’s not coming from hydro….you are going to lose big time.
Most Bitcoin is mined by hydro surplus energy. You shouldn’t be running a rig in New England. Some loan officer is going to lose his bonus.