Bulwark Takes Trump’s Crypto Grift Is Imploding
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Feb 6, 2026 
Catherine Rampell, economics columnist and newsletter writer who analyzes inflation, rates, and markets. She explains why Bitcoin and meme coins are collapsing. She contrasts crypto’s speculative behavior with assets like gold. She connects rising rates, forced liquidations, and risky exposures — including Trump-linked tokens — to the wider market pullback.
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Friend Cheered By Crypto Crash And Protest
- Tim Miller describes a friend cheered by crypto losses and viral protest moments.
- The wrestling crowd shouting at ICE and crypto crashes both lifted his friend's spirits.
Higher Rates Crush Speculative Assets
- Rising long-term interest rates punish speculative assets like crypto and tech stocks.
- Cheap borrowing fuels bubbles, so rate increases trigger broad sell-offs.
Crash Dynamics Amplify Downturns
- Crypto crashes can be self-reinforcing via forced liquidations and stop orders.
- Initial downward moves amplify as automated mechanisms and panic selling kick in.