3min chapter

GoodFellows: Conversations from the Hoover Institution cover image

Kale and Arugula? Kim Strassel on a New Congress, Old Challenges | GoodFellows: John Cochrane, Niall Ferguson, H. R. McMaster | Hoover Institution

GoodFellows: Conversations from the Hoover Institution

CHAPTER

Cryptocurrency

This wasn't really a run. This was classic fraud. Most of crypto is interesting technology but very old fashioned finance. People take your money and then fraud, really use it for something else has been a source of explosions. The underlying asset in all these cases were tokens that were had no fundamental value. Now, crypto can still exist. Back tokens are still an interesting technology. They turn out not to be as great and liquid as we thought so you're buying the three exchanges. So it's not really having that much to do with crypto is just classic financial fraud.

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