When nail salons and toy makers start pouring billions into crypto, you are deep in a late-stage mania that ends with congressional hearings and empty balance sheets.
The only thing these companies will be mining in a year is Chapter 11 paperwork. WSJ Small companies are pouring billions into bitcoin and lesser-known cryptocurrencies — raising big questions about risk, regulation, and what could go wrong if the market turns. — First Squawk (@FirstSquawk) July 26, 2025 We have eclipsed peak insanity. In …