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by programmarchy 1295 days ago
NASDAQ is also down 30%. Crypto was down before the whole FTX scandal, too, so that doesn't explain everything.
2 comments
Ekaros 1295 days ago
I think at current moment it is pretty much been shown that crypto is no hedge against other financial markets. It is entirely correlated. And then it has it own host of issues and probably have enough players who can't handle downturn in market...

More fun news to come.

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woodruffw 1295 days ago
Are you saying that a YoY decline of 30% in the NASDAQ index is comparable to a 30% employee haircut? I don't think that's how it works.
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programmarchy 1295 days ago
No, by “also” I was referring to cryptocurrency markets not the 30%.
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woodruffw 1295 days ago
Sorry for the confusion. I agree that macro trends are having an effect; I think some of the other threads have a good amount of elaboration on the interaction between the macro economic climate and the crypto downturn (and particularly, why crypto's unique vulnerability to downturns makes it funny to place blame on the broader market).
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