Money Clinic Podcast: survival of the crypto crash

In the past few weeks, the crypto industry has been shaken by a $ 40 billion, with many so-called “stable coins” as anything but proven.

The problems began with Terra and Luna, a linked sentence of digital tokens that are popular with crypto dealers, but the growing Fallout has affected the value of more established cryptocurrencies such as Bitcoin.

In the "Money Clinic" podcast, moderator Claer Barrett speaks to two young investors this week who have lost considerable sums of money when they dealt with unregulated assets.

In Bangalore, the 29-year-old subbaiiah was only horrified to see how his crypto stocks of $ 7,000 were reduced to a few hundred dollars after the collapse from Luna. He not only lost his life savings, he also has to pay back money that he has borrowed on credit cards to boost his trades.

In London, the 34-year-old listener dan saw how thousands of pounds were wiped off by his stocks to Bitcoin and ether. Although he had limited his shares to a small percentage of his overall portfolio, the crash has shaken his confidence in the long -term investment potential of crypto.

Scott Chipolina, the correspondent for digital assets of the FT, and Ilan Solot, a partner of the crypta group Tagus Capital, discuss what the future could be used as an investment class, what could still be done to protect consumers - and which steps can protect investors.