Hello everyone and welcome back to an all new episode of the Financial Confessions.

It's me, your host, Chelsea Fagan, founder and CEO of the Financial Diet.

And today I am here to talk about something that most of you, if not all of you,

have probably been reading about, thinking about even being affected by in the past few weeks.

We did an interview a few months ago here on TFC with YouTuber Dan Olson, who did a massively viral video,

sort of breaking down and exposing NFTs and the broader sort of cryptocurrency world and sort of all of the underlying

problems and dangers. Our episode with him is actually by far our most viewed and

downloaded podcast ever, speaking, I think, to the appetite that people have for real

clarity and candor around these issues, which in many cases are intentionally confusing.

And a lot of you might be aware of what has been referred to in the past few weeks as the crypto crash.

People are talking about the entire cryptocurrency market, its underlying structures, having a bit of a meltdown and being exposed in many cases for being flawed or unusable or rigged from the get-go.

And we're already seeing people in many cases losing huge amounts of money that they were in many ways lured into investing in these coins by the celebrities being paid to advertise to them,

the undisclosed influencers who are hyping up these products,

and a massive advertising campaign designed

to convince people that these were not only legitimate financial

instruments, but also the answer to a generation

of young adults who are in many ways economically

disenfranchised and without a ton of opportunity.

The meltdown is a complicated thing, right?

Because on the one hand, the crypto bros, as many people have come to think of them, have been quite damaging to the public discourse around things like macroeconomics and regulation, and even very combative to people who

attempted to point out some of these dangers from the get-go.

In general, not the most sympathetic bunch.

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