With the collapse of one of its largest exchanges, crypto’s having its very own Lehman Brothers moment. Semafor’s Liz Hoffman explains the repercussions for the real world. This episode was produced by Miles Bryan and Amanda Lewellyn, edited and fact-checked by Matt Collette, engineered by Paul Robert Mounsey, and hosted by Sean Rameswaram. Transcript at vox.com/todayexplained   Support Today, Explained by making a financial contribution to Vox! bit.ly/givepodcasts Learn more about your ad choices. Visit podcastchoices.com/adchoices