This does have real world consequences for all those small players who were suckered into buying cryptocurrencies at the peak by the likes of Saylor, Thiel and

This does have real world consequences for all those small players who were suckered into buying cryptocurrencies at the peak by the likes of Saylor, Thiel and Musk at the peak. Many lost their savings and many more will. Re the market caps, these are a fantasy propped up by unaudited exchanges currencies like tether. So it’s unsurprising all that perceived wealth melts into air - it never existed. Interesting that you think web3/meta/crypto are tied together and have a future when nobody wants to use them. They were simply vehicles for speculation in a very large asset bubble, now that the bubble has started to pop nobody wants these speculative assets but we haven’t seen capitulation in markets yet nor the end of fed rate hikes, so the pain will continue. Re infinite growth and business interest in these three areas, I see no evidence of that.