at the weekend, describing it as a “hustle,” the value of the cryptocurrency plummeted by more than a third. That highlights both the state and the fragility of the financial markets today. before Musk punctured its bubble.
Asset prices, the Fed said, could be vulnerable to significant declines should investor risk appetites fall; progress on containing COVID-19 disappoint or the US economic recovery stall.
In the aftermath of the 2008 financial crisis regulation of banks was tightened substantially. A side-effect was to drive a significant amount of activity, particularly higher-risk activity, into the shadows of the financial system inhabited by less-regulated and less-visible entities like hedge funds, private equity and other non-bank institutions.
In the lead-up to the US elections and with the pandemic still raging, that ordering of risks was understandable.
A good indication of the sophistication of the numpties involved in this crypto fraud market.
My crypto has gone up 20%. You’d be a fool not to invest a few hundred if you can.
Nah, everyone in crypto knew it was going to plunge after the show, its called 'buy the rumour, sell the news'
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