“If people were looking for assets to sell, crypto would be on the list,” Harrison told CNBC. He said that there has been a larger drop in risk assets, such as stocks, but it affects cryptocurrencies more than in the past because there is more institutional money in the space. The drop was made worse by terraUSD stablecoin lost the peg of 1 dollar.Īccording to Brett Harrison, president of crypto exchange FTX US, large institutional investors have entered the crypto market and were also the main driver of the latest sell-off. The sell-off of major digital currencies such as bitcoin and ether caused by a broader decline in the stock market, particularly in the technology sector. in Par- that startling telegram which brought such mournful tidings from Captain. And when such times come, usually need editing and at the end of the day healthy,” said Bjelic. Small and Reynolds Bostons and it is gratifying to bear in mind the. “ The market, in my personal opinion, can become a bit irrational, or it can be a bit reckless to a certain extent. ![]() Mihailo Bjelic, co-founder of blockchain firm Polygon, echoed this view, calling the crypto sell-off “necessary.”
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