Cryptocurrency has been having a rough couple of months lately. From bitcoin to ethereum and Coinbase, hundreds of billions of dollars have evaporated in crypto markets. But things got really bad last week, after a coin that’s supposed to be stable turned out not to be.
All this is having consequences. People who jumped into crypto during the pandemic, amid the rising visibility of celebrity endorsements and crypto influencers on TikTok, are losing real money. But the problem goes beyond that.
“It’s such a huge part of our financial system now,” said Anita Ramaswamy, a crypto and fintech reporter at TechCrunch. “This is really important because it’s not just limited to crypto. And it’s not going away. So even if you don’t particularly hold crypto, I think it’ll have some broader economic effects.”
And in case you’re still wondering what crypto is even for, you’re not alone.
On the show today, Ramaswamy explains what’s behind the crash and what it means for the future of cryptocurrencies. We’ll also provide a mini-explainer on “stablecoins.”
Later, good news about little kids and COVID vaccines, and will Russia and the West break up their energy relationship?
Plus, “Make Me Smart” fan art, and why you may be wrong about fly-fishing!
Here’s everything we talked about today:
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