[cornholio]

It was all fun and games while the crypto bubble was inflating. You basically could do no wrong, any mismanagement would be hidden away by the exponential appreciation of the underlying assets; just hodl until the next bull run and everything would be fine again.

When things stabilize and start going down, it's like the morning after the frat-party, bad things come to light. Crypto is fundamentally a negative sum game, it takes enormous resources to run and has generated a large number of self-minted millionaires that have cashed out and lamboed their earnings. There is very little actual marketable utility that crypto provides that could cover these large outlays, perhaps with the exception of facilitating money laundry and illegal transactions. I guess that's a business, but (hopefully) not a multi-trillion business suggested by the bubble's peak.

So it's inevitable the game must end with someone holding the bags.

[jleahy]

You never know who's swimming naked until the tide goes out.

[pibechorro]

Lol crypto is not what people launder with, its cash and major banks that have been caught over and over again taking dirty deposits. Cartels don't trade in public blockchains. Your ignorance is stunning.

[johnbellone]

You could say the same thing about SVB and the last 10 years.