Crypto Is A ‘Failed’ Asset Class, Says Renowned Economist

Economist and macro trader Alex Krüger has argued that “crypto” has largely failed as an asset class, even as blockchain-based adoption accelerates across stablecoins, tokenization, prediction markets, perps, AI and privacy-focused assets.
In a post on X, Krüger drew a sharp distinction between the speculative crypto market of recent cycles and the parts of the industry he believes are still showing meaningful traction. His central claim was blunt: most crypto tokens have f