Crypto Has Parallels With Subprime Mortgage Crisis, Says Paul Krugman

Crypto Has Parallels With Subprime Mortgage Crisis, Says Paul Krugman
Long-time crypto skeptic Paul Krugman sees “uncomfortable parallels” between crypto and the subprime mortgage crisis of the 2000s.The Nobel Prize-winning economist wrote in an opinion piece for the New York Times on Thursday that there’s evidence that the risks of crypto are falling on those who do not know what they’re getting in to and are less well positioned to handle the downsides.Citing the recent slide that has seen over $1 trillion shed from the crypto market, Krugman wrote, “Who is being hurt by this crash, and what might it do to the economy? Well, I’m seeing uncomfortable parallels with…