Front Burner

Crypto is crashing. Why?

As the cryptocurrency market crashes, a look at why it's happening now, how it's being felt, and why this crash could be different.
Movie star Matt Damon has attracted unfavourable media attention for appearing in an ad comparing crypto investors to brave historic risk-takers and explorers. (

After many months of hype, the cryptocurrency market is crashing. Last week, the trading and lending platform Celsius Network paused all withdrawals, citing extreme market conditions. Another trading platform, Coinbase, laid off nearly 20 per cent of its workforce warning of a potential extended "crypto winter." Some $2 trillion in value has been wiped out. 

Today, how that wipeout has been felt by one cryptocurrency investor.

Plus, an explanation of why this crash is happening now, and what could be next, from New York Magazine business and economics reporter Kevin Dugan.