Scott Minerd – CIO and president of Guggenheim Partners – believes the collapse of FTX will cause more problems for the company and its investors. And he reiterated his stance that market crashes could benefit the industry. Because it can eliminate bad projects.
from informationMinerd’s domino effect caused by FTX’s bankruptcy may continue for the foreseeable future. This will affect other departments:
“I can’t tell you where it will be. The reason is the same as many times when we get easy money and there is a lot of speculation. The weakest player will fall first. And obviously Crypto is crazy.”
The failure of FTX has affected the operations of many enterprises, including Genesis and BlockFi, and others such as Temasek, Multicoin Capital, Paradigm and CoinShares.
Minerd further predicts that the crypto industry will survive the current turmoil. Describing the dot-com bubble of the late 1990s: “This purge will be like the Internet bubble. in which we will have survivors –Because digital is still in its infancy And the evolution of this will require a regulatory framework to legalize it.”
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