Poor people and Wall St wear crypto crash

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Macro Morning

The longer crypto goes the worse it gets: high correlation with risk, ponzi-dynamics, no regulation, regulatory risk, Wall St selling it to the poor, staggering counterparty risk, no central bank, money laundering heaven and environmental catastrophe. It’s a disaster from bottom to top unless you are at the tip of the scam pyramid. And even they are getting creamed now.

Morgan Stanley has more.

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