Crypto populism in America can have bad consequences
Financial bubbles are inherently political. John Law’s doomed pumping of Mississippi Company stock in 18th-century France came with the state’s blessing. Deregulation also helped fuel Japan’s 1980s market boom. More recently, Sam Bankman-Fried (SBF), the frizzy-haired mogul jailed for his role in cryptocurrency exchange FTX’s collapse, was accused by prosecutors of using over $100 million…
