Crypto market in freefall The sharp downturn was triggered b | Get_Psyched0_0 on Binance Square

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Crypto market in freefallThe sharp downturn was triggered by Trump's sweeping tariffs on China, Mexico, and Canada, which rattled financial markets and sparked a global sell-off. Investors, already wary of regulatory hurdles surrounding Trump's crypto reserve initiative, now face mounting economic uncertainty. $OM 

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In December 2024, Bitcoin, one of the earliest cryptocurrencies and undoubtedly the most famous, hit $2 trillion in market capitalization, bigger than Tesla, Meta, and Saudi Aramco. In this episode, Chicago Booth’s Eugene F. Fama—a Nobel laureate sometimes called the “Father of Modern Finance”—predicts it will go to zero within 10 years. Legendary investor Ray Dalio called crypto a bubble a decade ago; now, he calls it “one hell of an invention.” Larry Fink of BlackRock previously referred to Bitcoin as an index of money laundering; today, he sees it as “a legitimate financial instrument.” During his first term in the White House, US President Donald Trump called crypto “not money, whose value is highly volatile and based on thin air”; less than 36 hours after launching his own cryptocurrency prior to his second inauguration, Trump appeared to have made more than $50 billion on paper for himself and his companies. Amidst this noise of crypto doubters changing tune, Fama joins Capitalisn’t hosts Bethany McLean and Luigi Zingales to discuss why he remains dubious about Bitcoin’s ambitions. Bitcoin uses more electricity than many countries—around 91 terawatt-hours annually. Is this amount unsustainable? What makes Bitcoin’s value so volatile, and what are the implications for the banking sector and our economy? If cryptocurrencies’ purpose is a reaction to an underlying distrust in financial institutions, can decentralized blockchain, the technological ledger that enables anonymous crypto exchange, fix it? Last but not least, why do supporters of a decentralized service, whose value lies in its existence outside traditional government structures, need to spend billions in lobbying to convince politicians, including the president, of its utility? $BTC

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The deepest cave in the world is the Veryovkina Cave, located in Abkhazia, Georgia, with a depth of 2,212 meters (7,257 feet). It holds the title since 2018, surpassing the previous record holder, the Krubera-Voronja Cave, which has a depth of 2,224 meters (7,297 feet). $OM

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A bottomless pit is a figurative expression that describes something that seems to have no limit or bottom, especially in terms of how much it can hold or consume. It's often used to describe a seemingly unlimited supply of something or a situation that requires constant expenditure or effort. $OM

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The Kola Superdeep Borehole is the result of a scientific drilling project by the Soviet Union in what is now north-western Russia that began in 1970 and continued through 1992. It was an attempt to drill as far into the Earth as possible. $OM

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The distance between the summit of Mount Everest (8,848 meters above sea level) and the bottom of the Mariana Trench (Challenger Deep, 10,984 meters below sea level) is 19,832 meters. This means the total vertical difference between the highest and lowest points on Earth is approximately 19.8 kilometers. $OM

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