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> With FTX and now Goldman buying up assets from dying crypto companies, it looks like a bigger crypto crash will now start to hit the rest of the financial mar

> With FTX and now Goldman buying up assets from dying crypto companies, it looks like a bigger crypto crash will now start to hit the rest of the financial markets. Why?

pclmulqdq 4y ago
Those companies have connections to the broader financial markets. The traditional thought was that crypto could do what it wants because it's a fairly insulated silo. If it fails, nothing of value fails with it. If it is going to contaminate the rest of the financial system, we are going to need to shut down the shenanigans very fast.
- danieltanfh95 4y ago
  That has never been the modus operandi for Centralised Exchanges for Crypto. This is like saying the Internet could do what it wants because it's insulated from the real world. FYI most funds have always been holding crypto, bitcoin in particular gives a better yield over any traditional asset in the world over a 10 year period, consistently over 30 years.
  - ntoskrnl 4y ago
    What 30 years are you referring to?
  - bitxbitxbitcoin 4y ago
    But Bitcoin hasn’t been around for 30 years?
- Nick87633 4y ago
  So you are referring to a future, bigger crash outside of the current year?
  - pclmulqdq 4y ago
    Two possible scary scenarios: an extension of the current crash or the next crash in 2025-2026.
    - mekster 4y ago
      That's a really unbiased insightful prediction.
- cdiddy2 4y ago
  Stocks have wiped out 7 trillion in value this year. At its peak the entire crypto market was 2.5 trillion and is now 1 trillion. So stocks lost 3 entire crypto markets worth of value this year, seems hard to say that it has the power to contaminate the system just yet.
- redisman 4y ago
  Why is FTX more connected to Wall Street than coinbase? Only one of them is public
- quickthrowman 4y ago
  $2B is chump change lol, Bill Hwang/Archegos blowing up in 2021 cost banks $10B in losses. Crypto is hilariously tiny compared to the actual world of finance. SPY (a single ETF) does as much dollar volume in a single 7.5 hr trading day as the entire crypto market does in 24h, and the entire crypto ‘market cap’ is worth less than half of Apple, one company.

> With FTX and now Goldman buying up assets from dying crypto companies, it looks like a bigger crypto crash will now start to hit the rest of the financial markets. Why?

pclmulqdq 4y ago

Those companies have connections to the broader financial markets. The traditional thought was that crypto could do what it wants because it's a fairly insulated silo. If it fails, nothing of value fails with it. If it is going to contaminate the rest of the financial system, we are going to need to shut down the shenanigans very fast.

danieltanfh95 4y ago
That has never been the modus operandi for Centralised Exchanges for Crypto. This is like saying the Internet could do what it wants because it's insulated from the real world. FYI most funds have always been holding crypto, bitcoin in particular gives a better yield over any traditional asset in the world over a 10 year period, consistently over 30 years.
- ntoskrnl 4y ago
  What 30 years are you referring to?
- bitxbitxbitcoin 4y ago
  But Bitcoin hasn’t been around for 30 years?
Nick87633 4y ago
So you are referring to a future, bigger crash outside of the current year?
- pclmulqdq 4y ago
  Two possible scary scenarios: an extension of the current crash or the next crash in 2025-2026.
  - mekster 4y ago
    That's a really unbiased insightful prediction.
cdiddy2 4y ago
Stocks have wiped out 7 trillion in value this year. At its peak the entire crypto market was 2.5 trillion and is now 1 trillion. So stocks lost 3 entire crypto markets worth of value this year, seems hard to say that it has the power to contaminate the system just yet.
redisman 4y ago
Why is FTX more connected to Wall Street than coinbase? Only one of them is public
quickthrowman 4y ago
$2B is chump change lol, Bill Hwang/Archegos blowing up in 2021 cost banks $10B in losses. Crypto is hilariously tiny compared to the actual world of finance. SPY (a single ETF) does as much dollar volume in a single 7.5 hr trading day as the entire crypto market does in 24h, and the entire crypto ‘market cap’ is worth less than half of Apple, one company.