In a recent interview Citi Analyst, Joseph Ayoub, warned that the overall cryptocurrency market faces risks of contagion from the FTX collapse. He said that the contagion “can last for a significant amount of time.” And the crypto industry looks like it has “no significant lender of last resort. I think there’s a serious risk of broader contagion to the ecosystem itself.”
Mr. Ayoub added that “I don’t see a lot of spillover and contagion in traditional markets, but we have yet to find that out, yet to be thoroughly investigated. Trust is gained over a decade but lost in an instant,”
He moreover shared his thoughts and added “It’s unlikely that contagion spreads toward broader financial markets, and that’s mainly because of the size of the crypto space, which is only around $830 billion in comparison to the $43 trillion U.S. equity market.”
On the other hand, Mr. Ayoub predicted that all crypto firms will face renewed skepticism and trust issues, but observed tha
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