As much as HN could lead you astray with the hype of this and that tech, articles like the above are some of the most consistently upvoted on this website.
The current hype cycle would be nothing without the institutional support.
But even before institutional investors started jumping in, traders and other employees of the above institutions have long been a key part of crypto markets.
> It’s a scary but essential truth to realise that normal software engineers like us are an integral part of society’s immune system against the enormous moral hazard of technology-hyped asset bubbles metastasizing into systemic risk.
Myopic and uninformed.
Pretend crypto doesn't exist and you still have a market rife with moral hazard and technology-hyped asset bubbles that metastasize into systemic risk to the point of bringing down the real economy in increasingly shorter crash cycles.