Crypto Crash Widens a Divide: ‘Those With Money Will End Up Being Fine’

Enthusiasts promote the digital coins as a means for people of all backgrounds to achieve transformational wealth outside the traditional finance system. But for all those supposedly egalitarian principles, crypto’s collapse has revealed a yawning divide. As employees of crypto companies lose their jobs and ordinary investors suffer huge losses, top executives have emerged relatively unscathed. Many amateur traders flooded into the crypto market during the pandemic, when prices had already started soaring, leaving them vulnerable to a crash. Thousands also flocked to work for crypto companies, thinking it was a ticket to new riches. Now many of them have seen their savings vanish or have lost their jobs. Many of them also have had their life savings left vulnerable to the crash and lost their Source