Time to Log Off is a weekly series documenting the many ways our political figures show their whole asses online.
This week, the vast and nebulous cryptocurrency market that’s spawned an entire ecosystem of wildly fluctuating digital money did perhaps the first widely predictable thing it’s done since rising to prominence: It began to crash, and crash hard. Really hard. Like, “at least half a trillion dollars wiped out in just a few days” hard. Around 40% of people who’ve bought into Bitcoin — likely the most widely known beep-boop currency out there — are now underwater in their investments, and thanks to a catastrophically bad earnings report from Coinbase, the largest crypto exchange in the country, the b-word (bankruptcy) is being bandied about with alarming frequency in regard to both users, and perhaps even the exchange itself.
