re: Crypto hedge fund Three Arrows Capital (3AC) now in liquidation

Crypto just became the latest tulip, it's just that they created 10,000 types of tulips within 18 months.

All the bubble asset classes typically live on (I mean we still have housing post-2009) in some form or fashion, just devalued.

I still think the big dogs have long-term investment value even though, imho, it destroys their intrinsic value. The problem with crypto is that unlike other bubble asset classes, you could literally create one out of thin air to pump and dump. It was never that easy and, as we all know, when making cheap money is easy, humans cannot help themselves.