Contagion of FTX meltdown far from over, warn industry players

Contagion of FTX meltdown far from over, warn industry players

Representations of cryptocurrencies are seen in front of displayed FTX logo and decreasing stock graph in this illustration taken November 10, 2022. REUTERS/Dado Ruvic/Illustration

Even as crypto lender BlockFi has filed for Chapter 11 bankruptcy protection in the US; Hong Kong-based crypto exchange Atom Asset Exchange (AAX) is reportedly wiping out some of its social media presence; and crypto broker Genesis works overtime to avoid filing bankruptcy, industry players have warned that the market sentiment is “extremely bearish” and the contagion is far from over.

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