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Kyle Bass Says ICO Investors Will Get Wiped Out in Crypto ‘Mania’

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Bass: Cryptocurrencies to Be Viable Asset Class

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Hedge fund manager Kyle Bass just took sides in the raging battle over the viability of the cryptocurrency market.

Calling many of the dozens of initial coin offerings that have taken place this year “frauds,” the Hayman Capital Management founder warned in a Bloomberg Television interview that investors will face steep losses.