Be Grateful for Crypto’s Well-Timed Meltdown

With each passing day, the brave new world of cryptocurrencies is looking more like the perilous old world of Wall Street circa 1929 or 2008. Supposedly stable investments are proving to be anything but. Specialized hedge funds, exchanges and bank-like entities are imploding, having made highly leveraged bets with other people’s tokens. Trillions of dollars in virtual wealth have vanished.

The right response? Relief that things didn’t get even worse.