Nobody knows how much money is actually on fire in the current crypto crisis.
(Photo: dpa)
The bad news follows one another at an ever-increasing pace: cryptocurrencies are collapsing, crypto platforms are stopping paying out to customers, crypto companies are laying off their employees and the first crypto hedge fund is already bankrupt. Hardly a day goes by now without such a message. The depressing thing for crypto investors is that there is no improvement in sight.
On the contrary. Parallels to the bankruptcy of the investment bank Lehman Brothers, which triggered the financial crisis in 2008, come to mind. Similar to back then, it is not individual institutes, companies or currencies that are the problems and fuel fears on the markets, but the interdependence of the industry with each other – and that in a quasi-unregulated space. Nobody knows how much money is actually in the fire.
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