Guggenheim Partners Founder: The Collapse of FTX Will Trigger a Crisis in the Blockchain Industry
According to the founder of Guggenheim Partners, Scott Minerd, the bankruptcy of crypto exchange FTX will lead to the fact that the blockchain industry will find itself in a protracted crisis. He believes that many crypto companies and investors will leave the market, although in general the businessman views this process as positive.
He has said that we are waiting for a domino effect in the very near future.
According to him, many investors have speculated on digital currencies, but now this phase of market development is coming to an end. It was left by both short-term traders and weak players who could not adapt to new conditions in time and went bankrupt.
The founder of Guggenheim Partners has predicted that the crypto industry will experience the same upheavals that were observed during the so-called dot-com bubble in the late 1990s.