Mark Gongloff, Columnist

Crypto Bros Can’t Afford Rolexes Anymore

The secondary market for luxury watches is taking a hit.

July 1, 2022 at 7:30 PM UTC

Mark Gongloff is a Bloomberg Opinion editor and columnist covering climate change. He previously worked for Fortune.com, the Huffington Post and the Wall Street Journal.

Out of reach.
Photographer: Leon Neal/Getty Images Europe

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Everything is terrible, but at least the crypto crash is refilling our nation’s Strategic Schadenfreude Reserve. Nouveau riche who have spent years telling us to “have fun staying poor” are now apparently returning, Lambo dreams in tatters, to the job market.