COLLAPSE: How Greed and Leverage Destroyed the Crypto-Tulip Market

By Vitaliy Katsenelson CFA

Crypto currency was touted as antidote to central banking.

But with its own flaws, is the system itself to blame for this crypto market crash?


Cryptocurrencies were supposed to offer a new, virtual alternative to the current, mundane, “corrupt” system, in which a few dozen bureaucrats in conference rooms around the world – central bankers – manipulate the most important commodity of all – interest rates – the price of money.


The collapse of FTX (a cryptocurrency exchange that was valued at $30 billion just a few months ago) and the subsequent bankruptcies revealed what may have started as a kernel of sincere libertarian ideas to stand up to endless money printing and debt creation in our financial system, has been hijacked by what appears to be an immutable flaw of the human condition: our greed and desire to get rich fast.

READ: How Greed and Leverage Destroyed the Crypto Tulip Market





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