#打榜优质内容# Crypto Assets fund management companies recreate the CDO risks of the 2008 financial crisis:

Crypto Assets industry executives warn:
The risks brought by Crypto Assets fund management companies are similar to the guaranteed debt certificates ( CDO )—these securitized products composed of mortgage loans and other types of debt triggered the financial crisis of 2007-2008.
Milo's CEO and former Goldman Sachs analyst Josip Rupena pointed out that crypto asset management companies have layered uncollateralized assets, which originally had no counterparty risk, with multiple risks such as corporate management capabilities, cybersecurity, and business cash flow generation capabilities. He added: "The essence of this phenomenon is that people are financial engineering products that were originally quite reliable — such as the mortgages of yesteryear or today's Bitcoin and other digital assets — making it difficult for investors to judge the actual risk exposure they are taking on."

Friends who have watched "The Big Short" and its original work should be familiar with CDOs. There is nothing wrong with CDOs themselves, but when a large amount of bad assets are mixed in, it becomes a huge risk; the same risks exist in DeFi, especially with RWA. Currently, there are already plans in the market to package bad assets (like fake jade) onto the blockchain to exploit investors, and there will be no shortage of such schemes in the future, so vigilance is essential.