Singapore’s Distaste for Retail Crypto Spooks Institutional Money

“There’s a fascinating discussion to be had about whether what Hwang did was full-blown fraud, but I won’t bother trying to outdo Matt Levine on that front. Instead, I want to focus on the financial mechanics of what Archegos was up to, and why it’s extremely important for cryptocurrency holders or traders to understand.” (CoinDesk columnist David Z. Morris) … “Yet, that surface-level assessment misses some striking new adoption trends that aren’t easily apparent to mainstream commentators. Minorities and various other marginalized groups are turning to crypto as a tool and developing unique, new innovative uses for it – often at a faster pace than communities that have traditionally had more privileged access to resources. This experience demands a careful approach to fostering diversity. We must not throw the baby out with the bathwater.” (CoinDesk Chief Content Officer Michael Casey) … “The broad selloff has erased trillions of dollars in market value from the tech-heavy gauge, with investors souring on shares of everything from software and semiconductor companies to social-media giants.” (The Wall Street Journal) … “The closings and demands for constant checks and vigilance, especially in Shanghai, have ignited public frustration, exhausted local officials and medical workers, and sapped economic momentum.” (The New York Times)