The crypto space has seen one of history’s most giant and iconic financial bubbles. The circle of leverage on leverage, interconnectedness and mental illness are all classic, as are the predictable aftermath of missing and frozen funds with fleeing founders and a daisy bankruptcy chain.

Cryptocurrency prices have crashed in the last few months as the industry enters a new “crypto winter.” Crypto has seen this before, most recently in 2018. But things are different this time. CNBC’s Arjun Kharpal reports on the factors that have driven the price plunge in the most recent crypto cycle. Here is a direct video link.

Quote of the year: “One thing we can say is that this cycle has been characterized by poor risk management and some unsustainable business models.”  And how!

Read more about the madness in The ‘crypto winter’ is different from the last; here’s why.