Despite the steamy weather, investors are uneasy about the current crypto climate.
Crypto mining rigs.
Photographer: Akos Stiller/BloombergVictoria Vergolina
Stacy-Marie Ishmael
Claire Ballentine
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You could argue that crypto is no stranger to a recession — in fact, it was the financial crisis of 2008 that birthed the idea of Bitcoin in the first place. But this recession is a little different: In the decade or so since that formative Bitcoin whitepaper, crypto has experienced spectacular growth. Rising prices last fall led to investor FOMO, or fear of missing out. But now, after this year’s heavy losses, investors who entered the digital asset class during its “bull market” are in the grip of crypto winter and reevaluating their entire relationships with the digital coin. For more on this shift from FOMO to oh no, Bloomberg reporter Claire Ballentine joins this episode.
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