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More Crypto ‘Meltdowns’ to Come Thanks to Fed Mistakes, Pantera’s Morehead Says

  • His firm put large portion of assets into Bitcoin in late May
  • Fed still doesn’t seem to understand what it’s done, he says
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Crypto Flirts With Lehman Moment in $2 Trillion Meltdown
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The Federal Reserve has for too long made grievous mistakes, and the repercussions are now reverberating in the crypto world, where there’s likely to be more “major meltdowns” to come.

That’s according to Pantera Capital’s Dan Morehead, who runs a crypto hedge fund and says the central bank has, via its policies in keeping overnight rates too low and in manipulating the bond market, made the worst policy mistakes the former Goldman Sachs Group Inc. bond trader has seen in 35 years of investing. Though the Fed is working on correcting the first slowly, it seems to not understand the latter, he said.