Treasury/Fed/FDIC issue joint statement with Tough Love for investors in failed banks.
It has $3.6 billion in real-world debt. The bonds crashed, the stock imploded, reality keeps biting the crypto world.
Wait a minute… It still “believes in” crypto? Is crypto now a religion that a bank “believes in?” FDIC, are you reading this?
Only a couple of smaller banks have significant exposure to cryptos, and their shares have collapsed.
The Crazy Stuff & Asset Prices that arose during Easy Money are coming unglued as Easy Money ended.
Consensual-hallucination stocks and crypto just keep on giving.
The price of consensual hallucination. Filing also lists $30 million SEC settlement, and huge amounts owed to unnamed “clients.”
Consensual hallucination was required to pull this off.
By letting it burn, it won’t get big enough to cause major contagion outside of crypto.
As the FTX collapse shows, the shenanigans guarantee smooth and efficient contagion inside the crypto zone. But beyond it?