When Matt Damon told us that “Fortune favors the brave,” he should have added, “but only if they aren’t stupid.” Crypto has no inherent value, is backed by nothing in particular, and serves no useful purpose for anyone other than criminals. Given its weaknesses, and lacking reasonable regulation, its collapse was completely predictable.
It shouldn’t surprise you to hear that its supporters were primarily right-wing libertarian types. Let’s hope they lost lots of money on it.
Given his record, I’m amazed that Trump wasn’t involved in some way.