Crypto news

Nassim Taleb tells us how long the “cryptozyme” will last

The author of the bestseller “Black Swan” suggested that the crisis period in the crypto-assets market could last “forever”. The economist believes that the word “cryptozyma” misleads traders.

Nassim Taleb shared on Twitter his thoughts on the current state of the market, which many in the industry call crypto-zima. Usually, when people talk about winter, they are referring to a short season followed by another, warmer season. However, in the cryptocurrency industry, this expression takes on a completely different meaning, according to Taleb.

The economist recalled the previous cryptozyma, which came in 2018 and lasted more than a year, not a few months. Now the crisis could also drag on for a long time, and subsequently become an “ice age” for the cryptocurrency market. Which is fraught with the extinction of some organizations associated with the cryptocurrency space, the trader believes.

Celsius, Three Arrows Capital (3AC), CoinFLEX and other platforms are now facing problems and are one step away from bankruptcy because of the downturn in the cryptocurrency market. The platforms are resorting to extreme measures, including suspending deposits and withdrawals. Cryptocurrency broker Voyager Digital approached Alameda Research a few days ago for a $500 million loan to protect client assets from extreme market volatility.

As a reminder, Nassim Taleb believes Bitcoin will become a goldmine for lawyers.

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