Crypto prices are crashing as rates rise, but Australian corporates are soldiering on like Monty Python’s Black Knight, as if it’s ‘just a flesh wound’.
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Crypto sceptic and veteran investor Warren Buffett did warn us that when the tide goes out you can see who’s been swimming naked and there are plenty of corporate nudists on the beach. The Betashares Crypto Innovators ETF is down 79 per cent since its first day’s ASX trade on November 4.closed at $US4 a share on the Nasdaq on Monday. Last November, shares floated at $US28. Ouch.
Tom writes and comments on markets including tech, crypto, software, small caps, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as an IMC graduate.
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