Last week was one of the worst in my 7-year crypto journey…
We saw major crypto exchange FTX halt customer withdrawals… lose a potential buyout bid from rival exchange Binance… and then file for bankruptcy before the week ended.
It was an incredible comeuppance for FTX CEO Sam Bankman-Fried.
Many considered him an industry leader and a lender of last resort for crypto… The media compared him to the Federal Reserve, Warren Buffett, and even J.P. Morgan.
At one point, he had an estimated net worth of $26 billion. Today, his net worth is around $800 million and depreciating rapidly.
FTX’s native token, FTT, is down 97% from its all-time high… And with a current market cap of $360 million it still has some room to fall.
Some people are even comparing the FTX’s downfall to Lehman Brothers… whose collapse triggered the 2008 Great Financial Crisis.
Last week, I summed up the FTX collapse in one word: Greed. (You can read about it right here.)
And while I believe this contagion has infected more centralized players than just FTX… I don’t believe it presages the end of the crypto space.
Sure, we will see more downside from here as the market flushes out the contagion.
But I believe crypto will rebound stronger than ever… and eventually reach new all-time highs when the next bull market cycle takes off.
Look, I understand… Crypto is in a brutal bear market. And as usual, the naysayers are writing it off for good.
I’m not a Pollyanna. I recognize the crypto market will need time to heal after the gut punches from the downfall of Three Arrows Capital, Voyager, and now FTX.
But it will heal. And when it does, we’ll see crypto take off again.
So I don’t believe FTX’s failure is the “next Lehman” moment. But another looming crisis out there is…
In 2008, Lehman Brothers went from being the fourth-largest U.S. investment bank with a market cap of $60 billion at its peak… to one of the largest bankruptcy filings in U.S. history.
The collapse triggered a massive panic in the market that almost destroyed our entire financial system.
If you lived through the Lehman collapse, I’m sure you’re still haunted by the ghosts of 2008.
I know I am.
I started my career at Lehman at the age of 18. And I left years before the company got in trouble.
But when it went under, I was a special guest host on the Fox Business channel. I ended up reporting on Lehman’s collapse right outside its headquarters.
So I remember that day like it was yesterday… People were shuffling out of Lehman’s headquarters like zombies.
Nobody believed what they were seeing. It was a horror show. I didn’t think it could ever happen again.
But here we are… 14 years later. And I believe we’re on the verge of another Lehman episode.
And it’s not in the crypto market.
A Ticking Time Bomb
Today, I see a disaster forming in the stock market…
We’re sitting on top of a $9.3 trillion ticking time bomb. To put that in perspective, that’s 155 times bigger than Lehman was.
And when it explodes, it could potentially destroy the financial future of investors worldwide.
That’s why I’m holding a special briefing this Wednesday at 8 p.m. ET.
I’m calling it “The Next Lehman”…
At the event, I’ll discuss this emerging crisis and reveal how it could give investors a shot at 14x returns using a little-known recession-proof asset that’s far safer than regular stocks but offers massive upside.
So join me Wednesday at 8 p.m. ET and let me show you how to prepare for it…
Because just like the FTX collapse, this crisis could devastate your wealth if you’re in the wrong investments when it triggers.
Look, I know FTX is a major problem for crypto. We’ve seen these happen in the past. But each time, crypto has bounced back.
But this next Lehman is much bigger than anything in crypto. As I mentioned above, trillions of dollars are at stake. So you want to pay attention.
Click here to automatically reserve your spot.
Let the Game Come to You!