3 ms·

This doesn't have a whole lot to do with crypto really. The entities discussed in the article are all traditional investment funds who made some risky bets.

• myle 4y ago
  In what was that risky bet?
• graeme 4y ago
  That’s like saying that banks making risky bets on CDOs in 2008 had nothing to do with housing
  • dropnerd 4y ago
    i think what they're trying to say is that these firms just look like traditional trading firms, not like defi. opaque backroom billion dollar handshakes go wrong, contagion spreads, ltcm/2008 style. main difference- there's no government bailout coming.
    • kayamon 4y ago
      There'll be a bailout. They don't let the rich folks go poor.
      • dropnerd 4y ago
        there might be some corporate firesales, but what makes you think any government is going to backstop the crypto market to prevent contagion?