How crypto became the new sub-prime

While cryptocurrencies won't threaten the financial system like the sub-prime crisis of the 2000s, the parallel is with risks falling disproportionately on people who don't know what they are getting into.

A motor repair shop that accepts cryptocurrency as payment in Aguilares, El Salvador. PHOTO: REUTERS
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(NYTIMES) - If the stock market isn't the economy - which it isn't - then cryptocurrencies like Bitcoin really, really aren't the economy.

Still, crypto has become a pretty big asset class (and yielded huge capital gains to many buyers); by last autumn the combined market value of cryptocurrencies had reached almost US$3 trillion (S$4.1 trillion).

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