According to Guggenheim Partners founder Scott Minerd, the bankruptcy of the FTX exchange will put the blockchain industry in a protracted crisis. Many cryptocurrency companies and investors will leave the market, although the businessman sees this process as positive overall.
Minerd tweeted that a domino effect awaits us in the very near future.
Many investors speculated on digital currencies, but now this phase of market development is coming to an end. Both short-term traders and weak players who could not adapt to the new conditions in time and went bankrupt have left the market.