I’m ‘financially ruined’: Cryptocurrency investors are crushed by losses of 70% or more [CNBC]
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Source: CNBC
SAN FRANCISCO — Pete Roberts of Nottingham, England, was one of the many risk-takers who threw their savings into cryptocurrencies when prices were going through the roof last winter. Now, eight months later, the $23,000 he invested in several digital tokens is worth about $4,000, and he is clearheaded about what happened. I got too caught up in the fear of missing out and trying to make a quick buck, he said this week. The losses have pretty much left me financially ruined. More from The New York Times: As bitcoin bubble loses air, frauds and flaws rise to surface Here's some cryptocurrency. Now please use it. Subpoenas signal SEC crackdown on initial coin offerings Mr. Roberts, 28, has a lot of company. After the latest round of big price drops, many cryptocurrencies have given back all of the enormous gains they experienced last winter. The value of all outstanding digital tokens has fallen by about $600 billion, or 75 percent, since the peak in January, a
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