LogFAQs > #967038913

I'm not talking about the actual price of coins

I'm talking about what's going on with the "banks" (Celsius), "stable" investments (Luna) and exchange services like Binance and Robinhood.

Namely - they're all involved in huge scandals and they're all falling apart and taking out people's assets along the way, since Crypto isn't regulated.

Celsius sold itself on being a bank without being a "bank" in the negative-sense. Yet if a licensed bank does something shady and goes belly-up, they're insured by the FDIC and you'll still get your money back (up to $250k, at least). When Celsius went belly-up, you lost everything. Your assets were frozen and confiscated.

That's bad enough as it is - but the worst part is that crypto isn't anywhere near as liquid as investors think it is. And the companies that actually facilitate the real transactions are all in trouble for insider trading and basically being shady as shit. If they're not collapsing due to phenomenally inept hedging and investing, they're turning into rug pulls or Ponzi schemes posing as legitimate financial institutions.

It's plain as day that the core foundations of crypto as a speculative investment are systematically falling apart, yet people just don't seem to notice or care. But they will - as long as these pillars keep breaking. Finding out that all the stuff you HODLed is meaningless because you literally can't sell it even if you wanted to? That's terrifying.