Cooking The Books

Each week BusinessDesk and the NZ Herald's Cooking the Books podcast tackles a different money problem. Today, it's what's happening now that the dust is settling from the crypto crash, and how the mainstream investing world is reacting to it. Hosted by Frances Cook. The crypto world is just starting to catch its breath after what was one of the nastiest crashes in its history. A supposedly safe stablecoin, Luna, cratered, and may never recover. The ripples of fear went far and wide, and the entire crypto market fell about 30%. In a single day, the market lost US $200billion, or in New Zealand dollars, $320 billion in value. So is this proof that it’s all a bubble, like the infamous tulips example? A ponzi scheme? Or, as crypto enthusiasts like to say, are we all victims of FUD – fear, uncertainty, and doubt? Will this bounce back, and then us non-believers will be the idiots who miss out on all the money that could be made? Frankly I suspect the answer is somewhere in the middle, but what would I