The collapse of cryptocurrency exchange FTX - the latest in a series of liquidity squeezes and bankruptcy filings that have shaken investors - has underscored the need for more regulations in the highly speculative sector.
"Although investors have suffered significant losses, we believe this second 'crypto winter' will be a net positive because the FTX collapse will edge the crypto ecosystem closer to the established financial sector." "Our view is that we remain in the first innings of a major change in applications that will take place over the next 30 years.""While the FTX crisis appears to be peaking, asymmetrical responses of mining to prices may weaken the market headwind: now less sensitive to the downside while more to the upside," economists said in a note.
"Normalization is evident from the fact that outflows from centralised exchanges have eased. And the wrapped bitcoin discount has largely reverted after widening to as much as 1.5%.""Regulation looms to the extent that we don't see any near-term positive catalyst for a strong recovery.
Long winter or towards bottom it is
Ethereum found more people who don't trust banks with their money and rather would give access to their funds to shady exchanges?
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