How Bad Has This Crash Really Been?

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More money has been lost and more people have been harmed in the crypto market, says Scott Dawson. The idea that cryptocurrencies could work as money was quietly abandoned by most people years ago,. Nowadays, it's just all about how much you can make from selling on your crypto. In some ways, crypto is silicon-bowelies multi-level marketing scheme scaled up to a very, very large scale.

A new season of Tech Tonic asks whether crypto and its supporting technology - the blockchain - have a future following a market crash. In the first episode of this five-part series, FT columnist and host Jemima Kelly casts a sceptical eye on what led to the boom in digital assets and their subsequent collapse. She assesses the damage with the FT’s digital assets correspondent Scott Chipolina, and hears from big-time bitcoin investor Michael Saylor, Dogecoin co-creator Jackson Palmer, and crypto YouTuber, Wajahat Mughal.

Check out stories and up-to-the-minute news from the FT’s technology team at ft.com/technology The FT’s Cryptofinance Hub is at https://www.ft.com/cryptofinance Scott Chipolina’s reporting can be found at https://www.ft.com/scott-chipolina

For a special discounted FT subscription go to https://www.ft.com/techtonicsale

Presented by Jemima Kelly. Special thanks to Scott Chipolina. Edwin Lane is senior producer. Produced by Josh Gabert-Doyon. Executive producer is Manuela Saragosa. Sound design by Breen Turner, with original music from Metaphor Music. The FT’s head of audio is Cheryl Brumley.

News clips credits: CNBC, Saturday Night Live

Read a transcript of this episode on FT.com

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