The crypto crash: all Ponzi schemes topple eventually The crypto crash

In 1933, the Banking Act- also known as the Glass-Steagall Act- was put into law in order to protect consumers from having their money gambled away by investment bankers. The act separated commercial banking from investment banking in order to stabilize the economy and prevent another financial crisis like the one that caused the Great Depression of 1929. However, by 1999, Bill Clinton and Congress had deregulated Wall Street and allowed for the consolidation of commercial and investment banking once again. This decision led to another financial crash in 2008, from which millions of Americans lost their jobs, homes, and savings. In 2021, crypto currencies are experiencing a similar crash due to fraud, scams, abuse, and lack of regulation. It is important to learn from history in order to avoid repeating past mistakes