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Financial crises can trigger serious mental health disorders and have been linked to surges in suicide attempts. But neither the crypto world nor our current health-care system is equipped to handle the fallout from this week’s crypto crash
This week, the cryptocurrency market saw a crash unlike many before it — one that ripped down the value of major coins like Bitcoin and Etherium, as well as alternative crypto options that had been lauded for their stability. Chief among them was TerraUSD and its sister coin, Luna — a relationship built on financial symbiosis, and one that had proven incredibly profitable for investors over the last year.
TerraUSD and Luna’s combined crash is so bad that it’s impacted other cryptocurrencies and financial markets, and it’s looking likely that Luna will never bounce back. As the value of these coins plummeted, many took to social media to look for solace. And as we saw in the 2008 housing crash, it became obvious that many people had lost their life savings, and were nearing wits’ end.
Then came the posts about people considering suicide.
This week, the cryptocurrency market saw a crash unlike many before it — one that ripped down the value of major coins like Bitcoin and Etherium, as well as alternative crypto options that had been lauded for their stability. Chief among them was TerraUSD and its sister coin, Luna — a relationship built on financial symbiosis, and one that had proven incredibly profitable for investors over the last year.
TerraUSD and Luna’s combined crash is so bad that it’s impacted other cryptocurrencies and financial markets, and it’s looking likely that Luna will never bounce back. As the value of these coins plummeted, many took to social media to look for solace. And as we saw in the 2008 housing crash, it became obvious that many people had lost their life savings, and were nearing wits’ end.
Then came the posts about people considering suicide.
Crypto Bros Are Now on the Frontlines of a Full-Blown Mental Health Crisis
Financial crises can trigger serious mental health disorders and have been linked to surges in suicide attempts. But neither the crypto world nor our current health-care system is equipped to handle the fallout from this week’s crypto crash
melmagazine.com