It’s Bailout Season for Crypto Companies

A few short weeks ago, there was enough cash gushing around the crypto universe to blanket sports stadiums and build blockchain exchanges for the Coachella music festival. The crypto universe has been bleeding, to the point where several heavyweights find themselves in need of outside aid. Goldman Sachs is reportedly looking to raise $2 billion from investors to buy distressed assets from troubled crypto lender Celsius. The UK Treasury proposed identifying certain firms as systemically important, and then using a “special administrative regime” to allow the Bank of England to protect financial stability in case such firms melt down. Regulators have their share of blame for the current crisis, too many companies have resisted or ignored the rules or ignored. We should be grateful, in a macro sense, Source