As crypto markets tumbled, strict US regulatory rules on risky assets mostly insulated Wall Street from the chaos, while retail investors had no such safeguards
As cryptocurrency prices plunged and funds failed, strict rules on risky assets helped Wall Street companies sidestep the worst. Tweets: @drewharwell , @ianguider , @tphillips , @glastris , @drfarls , and @flitteronfraud Tweets: Drew Harwell / @drewharwell : Totally normal financial instrument, glad it's unregulated https://www.nytimes.com/... https://twitter.com/... Ian Guider / @ianguider : “Beth Wheatcraft, a 35-year-old mother of three in Saginaw, Mich., who uses astrology to guide her investing decisions” How Wall Street Escaped the Crypto Meltdown https://www.nytimes.com/... Todd Phillips / @tphillips : Today @FlitterOnFraud writes about How Wall Street Escaped the Crypto Meltdown. Bank regulators did a very good job of keeping crypto out of the traditional financial system. But Emily quotes a Celsius depositor who says “I just don't see how what they did is not illegal.” 1/ Paul Glastris / @glastris : We need to create an award for brave government regulators and bestow the first on those anonymous heroes who refused to let big banks invest in crypto./1 https://www.nytimes.com/... @monthly Robert Farley / @drfarls : “In the great cryptocurrency blood bath of 2022, Wall Street is winning” because of course it's winning. https://www.nytimes.com/... Emily Flitter / @flitteronfraud : Why hasn't the crypto crash destabilized Wall Street? Because of better regula— er, oops, meant to say smart money. https://www.nytimes.com/...
“Beth Wheatcraft, a 35-year-old mother of three in Saginaw, Mich., who uses astrology to guide her investing decisions” How Wall Street Escaped the Crypto Meltdown https://www.nytimes.com/...
Today @FlitterOnFraud writes about How Wall Street Escaped the Crypto Meltdown. Bank regulators did a very good job of keeping crypto out of the traditional financial system. But Emily quotes a Celsius depositor who says “I just don't see how what they did is not illegal.” 1/
We need to create an award for brave government regulators and bestow the first on those anonymous heroes who refused to let big banks invest in crypto./1 https://www.nytimes.com/... @monthly
My quibble w this story is the notion that regulations helped firms avoid crypto/meme bust. Reason Wall Street got it right — and retail is getting crushed—is age. These CEOs lived through past crashes & experienced the consequences https://www.nytimes.com/...