The world of crypto is a tangled web, and it doesn’t seem like the situation is going to improve any time soon. Recriminations and lawsuits are the order of the day, driven, in many cases, by those who claim they just know better. Meanwhile, the market is booming as more and more people pile in lest they be left out of the latest surge. It’s been said many times before, but the buyer should know what they’re letting themselves in for. A statement from the UK’s Financial Conduct Authority in early January is fairly typical, saying if consumers invest in these types of products, ‘they should be prepared to lose all their money’, and just like all high-risk and speculative investments, consumers should make sure they understand what they’re investing in.

This is fair enough, and good advice, but the problem is that crypto isn’t like other asset classes, and I’ll take a bet there’s never been more investment in something that is so little understood. After all, how many investors have read the White Paper?