New York City, NY—Crimson Cash collapsed in value in early trading Monday, on the heels of the revelation that the Harvard Corporation does not have $250,000 in liquid assets. Crimson Cash fell 30% versus Brown Bear Bucks, 23% versus the Euro, and reached a 5-year-low of 0.61 to the Princeton Paw Print.

            Students have expressed dismay at the drop in value, which has manifested itself in record inflation in Harvard Square. The price of a single snickerdoodle Insomnia Cookie was 6 Crimson Cash as of Tuesday afternoon, and Pamela Li ’16 reportedly received only the top half of a bag of Sun Chips from a vending machine below her dorm in Pforzheimer House after paying the posted price.

            Local vendors are also feeling the sting. Joao Vasquez, a Boloco manager, told reporters that the recent turmoil in the exchange markets had made him wary of accepting Crimson Cash. “I used to think I could count on Crimson Cash to hold its value, but now I can’t be sure it’ll be worth anything tomorrow,” Vasquez explained “from now on, it’s TechCASH or nothing.”

            For one group of investors, however, it seems sticking with Crimson Cash would have been a safer bet. After shorting Crimson Cash just as markets opened on Monday, members of the Stanford Investment Association found themselves sitting on nearly 2.8 million Eli Bucks (USD $1.84), which relentlessly continued their downward spiral.