Wall Street

Crypto Crisis Brings Back Ghosts of Lehman Brothers

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The Street

By Luc Olinga The crypto industry is going through an unprecedented crisis of confidence. For Gen Z, the crisis in the crypto industry, in which many of them have made and lost their first investments, is a very painful situation. For millennials and older investors, the struggles in the crypto galaxy bring to mind the 2008 financial crisis. The crypto-liquidity crisis started in May, when sister tokens Luna and UST collapsed, wiping out at least $55 billion of value and threatening the future of several eminent firms. It has been facilitated by a lack of rigorous risk management in this young…

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