Then got here the pandemic. As governments closed down companies and handed out cash to folks unable to work, central banks launched into essentially the most exorbitant cash creation applications in historical past. Much of that cash discovered its approach into crypto markets, elevating costs to unprecedented ranges and fueling the fast development of high-yield lending, advanced artificial belongings and poisonous derivatives of a sort final seen earlier than the 2008 monetary disaster. While the actual economic system was shut down, there was a cryptocurrency feeding frenzy. Pension funds, hedge funds, software program firms, soccer golf equipment and celebrities all bought in on the act, and lots of atypical folks made life-changing quantities of cash.
