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.
But history doesn’t repeat, it rhymes: For your amusement, a Nasdaq comparison to the Dotcom Bust.
“The value of discipline is currently at an all-time high,” after years when the value of consensual hallucination was at an all-time high.
Beyond the consensual hallucination, the real world for automakers is not fun.
Consensual-hallucination stocks and crypto just keep on giving.
It burned through most of its $700 million of investor cash. So now what?
I mean, like within hours and days, rather than weeks and months. But the SPAC sponsors want to make some money.
Consensual hallucination was required to pull this off.