Mastodawn

Robert Reich Nov 23, 2022

Out of control speculation led to the Great Crash of 1929.

Wall Street deregulation led to the financial crisis of 2008.

Crypto delusion led to the crypto crash in 2022.

The worst is yet to come — just look at FTX.

All Ponzi schemes topple eventually. Crypto is no different.

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Sibachian

@rbreich only centralized crypto such as what just happened with FTX is a problem, much like banks (and the antithesis of crypto). the only real difference here is that the banks got bailed out in 2008. but then again, the FTX guy has deep government ties, so maybe not so different after all.