There's two buckets of people who get screwed and they both get screwed pretty badly. I don't think this spills over into the the broader economy in part because like by design crypto was not plugged into the economy The crypto entrepreneurs were so disdainful of the traditional economy and the traditional financial system that they largely live outside of it. There is there is some knock-on effect here. People will lose money and the entire industry to the extent you think it has some long-term value I'm still sort of agnostic about that. This is a very bad Day for that.

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode