Crypto dominoes fall in the wake of FTX's collapse

Re:Crypto dominoes fall in the wake of FTX's collapse by majormajor on Thursday November 17, 2022 @01:54PM (#33643746)

There are a lot of people willing to lend you money on the back of less-liquid-than-cash assets, though.

It may not be "real wealth" but it certainly is spending power and psychological cushion, which means different spending choices, which means inflationary pressure.

I had a lot of coworkers who listed crypto holdings on their mortgage application in the past few years. They wouldn't have been bidding as high if the perceived value of those wasn't there.

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Re:Crypto dominoes fall in the wake of FTX's collapse by ericd on Thursday November 17, 2022 @10:45PM (#33649908)

Yeah, when money's cheap and easy, banks make bad loans. Don't depend on the ability to get asset-backed loans to get you through a downturn, though, banks tend to get tightfisted real fast.

[ Parent | on HN ]