A Citi analyst has warned of a serious risk of broader contagion to the crypto ecosystem stemming from the collapse of crypto exchange FTX, noting that the contagion “can last for a significant amount of time.” He added that the crypto industry seems to have “no significant lender of last resort.”Citi analyst Joseph Ayoub explained in an interview with CNBC Friday that the overall cryptocurrency market faces risks of contagion from the implosion of FTX.
Ayoub further predicted that companies in the crypto sector will face renewed skepticism and trust issues, but noted that it also means other firms can move to capture more market share now that one of the biggest players has gone under. Contagion can last for a significant amount of time, and with the amount of companies that are involved and the amount of investments involved with FTX, and following Chapter 11, it could take a long time for this to resolve.Changpeng Zhao , the Citi analyst believes that the FTX crash differs from the 2008 financial crisis when the government stepped in with a massive cash injection and bailed out Wall Street.
I’m willing to take that risk and buy more crypto with my Tether.
Hodle like a ape!
In other words they are tryna buy your bags on the low don’t paper hand
Ex Nihilo Ad Nilil When you pretend to create value from nothing The only place it can logically return is to nothing Both for the exchanges and the underlying product Just to add a bit more by way of a Latin Dictum Ex Nihilo Nilil fit Nothing comes from Nothing
Contagion? The “crypto ecosystem” can burn to the ground, and my Bitcoin will be just fine. Tick-tock, next block.
Classic bear market article
Lol, I only listen to ChiefraFba for signals and analysis
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