Well, there's your problem. Here is a potentially interesting math paper that comes to very different conclusions: https://www.fooledbyrandomness.com/BTC-QF.pdf
Almost everything other than Bitcoin and Etherium, and some of the stablecoins, has crashed hard. A lot of issuers made money, but few others did.
Well, there's your problem. Here is a potentially interesting math paper that comes to very different conclusions: https://www.fooledbyrandomness.com/BTC-QF.pdf