Crypto is DEAD for GOOD! Investors lost Billions in just a few days!

The Crypto world is eerily silent. Ironically, “CRYPTO” actually means an underground burial chamber. Bitcoin crashed in value by 75% last week. Other cryptos have been steadily decreasing in value for the past year, with some even completely phased out. ?

With FTX, the largest crypto exchange collapse, the final nail in the coffin was hit. FTX CEO, Sam Bankman-Fried [the name Bankman Fried is such an irony now] has filed for bankruptcy. Abzer has always explored cryptocurrency and put out articles as and when we got the news. So, here is a round-up on the latest crypto crash. ?

Read on..?

FTX collapse was attributed to inappropriate embezzling of customer funds to expand the company’s own crypto value called the FTT token. ?

When the CEO of a major exchange authority is coming out with a humiliating apology on a public platform, you know things are really done and over big time!?

After all Warren Buffet, the Investor mogul can finally sit back and say “I said so!”?

Up until just a few weeks ago, investing in crypto was cool and intelligent, and smart!?

When old-generation investors and CXOs were skeptical and raised several questions, they were rebuffed by the new-generation investors.?

With no central regulatory board to monitor and absolutely nobody to hold accountable, dubious deals thrived. ?

Warren Buffet had once said even if he got all the cryptos in the world for 25$, he would still not buy them!?

Crypto investors called Buffet too “old” and antiquated to understand crypto.?

Just a few months back, social media was replete with news of crypto billionaires and multi-millionaire influencers enjoying luxurious vacations or buying ludicrously expensive yachts.?

Decentralization was promised, and the myth that better financial inclusion can be ensured was circulated like vile propaganda.?

But nobody questioned the possibility that no government to check dubious dealers also meant that shady dealers would flock to scam average consumers and investors. ?

Incredible as it sounds, it seems that investors simply “believed” what was sold to them. ?

Like someone once said if you were na?ve enough to put your hard-earned money into the care of a 30-year-old youth working out of the Bahamas, then he and his intermediaries might as well con you!?