this post was submitted on 08 Aug 2024
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Cryptocurrency

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Crypto was once touted as a ‘safe haven’ asset – why did it crash too this week? (theconversation.com)
submitted 3 months ago by [email protected] to c/[email protected]
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[–] [email protected] 3 points 3 months ago* (last edited 3 months ago)

Some big instruction bois took massive loans in yen and bought assets with it. Then annoying japan raised the rates! Panic sell to pay loans, because bosses told them so.