A director with the International Monetary Fund (IMF) has warned of further selloffs in both crypto assets and equities. He further warned that more crypto tokens could fail.
IMF Foresees More Crypto Selling Pressure
Tobias Adrian, director of Monetary and Capital Markets for the International Monetary Fund (IMF), warned about further selling pressure in the crypto market and more crypto token failures in an interview with Yahoo Finance Wednesday.
He said:
We could see further selloffs, both in crypto assets and in risky asset markets, like equities.
“There could be further failures of some of the coin offerings — in particular, some of the algorithmic stablecoins that have been hit most hard, and there are others that could fail,” he detailed. The IMF director also expects crypto to drop even further amid a recession.
In May, cryptocurrency terra (LUNA) and stablecoin terrausd (UST) imploded, prompting SEC Chairman Gary Gensler to warn that a lot of crypto tokens will fail.
Adrian...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
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...