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