Complicated crypto products recall derivatives at the centre of the global financial crisis

Cryptocurrencies are volatile, risky and lack transparency. For banks and investors alike, that鈥檚 risky. 鈥淪ome like to think 鈥榯his time it鈥檚 different鈥�,鈥� Prof Patrick Augustin told PaperJam.lu. But for Augustin, crypto today recalls Lehman Brothers, the financial services firm whose collapse set the global financial crisis in motion in 2008. The similarities are striking. Like today鈥檚 crypto markets, Lehman Brothers complicated investment products that many buyers and sellers didn鈥檛 fully understand.

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