If all the news lately about cryptocurrencies–and the fall of Sam Bankman-Fried and his FTX exchange–have left you wishing you had a better handle on the maddeningly complex world of crypto, we’re with you. So we asked Bloomberg Opinion columnist Matt Levine to join Wes this episode to answer: What exactly is crypto, both in theory and reality?
(In case you missed it, Matt wrote a cover-to-cover story for Bloomberg Businessweek on the subject. So he seemed like a good person to ask.)
Matt explains how crypto works and what gives it value. He looks at why once-soaring cryptocurrencies have now plummeted into an extended “crypto winter.” And he assesses the FTX fallout — and what it means for the fate of crypto when billions of dollars of customer money go missing.
Learn more here: https://bloom.bg/3GjHFs6
Listen to The Big Take podcast every weekday and subscribe to our daily newsletter: https://bloom.bg/3F3EJAK
Have questions or comments for Wes and the team? Reach us at email@example.com.