Where is the trillions of dollars lost in the crypto market going?

Question

From what understand, money doesn’t just disappear. When you’re at a poker table playing, the sum of money everyone started with is the same at the end(when someone loses $100, other(s) gain $100). If I sell you a crypto for $100 and it drops to $0, I would still have your $100. In this case, wouldn’t someone/some groups of people get all the money that is currently being lost?

In: 6

Answer 1

for the people “making” their own crypto, its just gone. for everyone else: they bought it for real money earlier. so that is where they lost the money.