Vulture investors appear to be circling damaged crypto lenders and investments, with news breaking over the weekend that firms ranging from cryptocurrency exchange FTX to investment banking giant Goldman Sachs are looking to snap up assets at fractions of their value.
And with the crypto market tumbling and the venture firms that were once doling out cash by the truckload looking a lot more cautiously at bottom lines and growth potential, terms are becoming a lot tougher — and investors with the capital to extend lifelines becoming a lot more ruthless, willing to see not only other institutional investors but also retail investors wiped out.
Case in point, the motives of FTX CEO Sam Bankman-Fried, who last week was presenting himself as crypto’s savior, offering distressed firms a lifeline “even if it is at a loss to ourselves” to protect the crypto industry, started sounding a lot less altruistic over the weekend.
See also: Is Crypto’s Richest Billionaire Becoming its ‘Lender of...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...