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There Are Too Many Cryptocurrencies, and Investors Are Paying the Price

The new world of ‘shit coins’ is fertile ground for pump-and-dump schemes

Pierre Borthiry for Unsplash

Last Wednesday was a rough day for cryptocurrency investors. Cryptocurrencies fell across the board, losing more than $500 billion in value at one point, with Bitcoin plummeting more than 20%. And while the market…




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James Surowiecki

James Surowiecki

I’m the author of The Wisdom of Crowds. I’ve been a business columnist for Slate and The New Yorker and written for a wide range of other publications.

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