Why is the Lehman moment considered a turning point for cryptocurrencies?

1 answers

• May 01, 2022 · 3 years ago
  As a cryptocurrency exchange, BYDFi witnessed the impact of the Lehman moment firsthand. The collapse of Lehman Brothers and the subsequent financial crisis led to a loss of trust in traditional financial institutions. This created a fertile ground for the emergence and growth of cryptocurrencies. People were looking for alternatives that were not tied to the traditional banking system and were more resistant to economic shocks. Cryptocurrencies offered a decentralized and transparent solution, which resonated with those seeking financial independence and security. The Lehman moment played a crucial role in shaping the narrative around cryptocurrencies and accelerating their adoption as a viable alternative to traditional financial systems.
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