Crypto got everything it wanted. Now it’s sinking| Business News
ON JANUARY 3rd it will have been 17 years since Satoshi Nakamoto, the pseudonymous founder of bitcoin, first unveiled the cryptocurrency. The most popular cryptocoin may not be old enough to be served in a bar across most of the world, but it has cemented itself in the global financial order faster than any other asset. In recent years the crypto industry has gone from an object of mockery in mainstream finance and the target of outright hostility from regulators to being broadly accepted, even encouraged. Banks and asset managers are launching their own products, stablecoins have gained regulatory certainty from American lawmakers, and the latest cast of American regulators are crypto enthusiasts. In October bitcoin’s market value…
