What is the future of cryptocurrencies after the collapse of FTX?

This Monday, the CEO of Binancethe main exchange of exchange of cryptocurrencies of the world, defended a”best regulation in the sector” after the earthquake that suffered FTX and which led him to bankruptcy.

The sector is in crisis Bitcoin trades above US$16,000while Ethereum does it above the U$1200. The crisis of digital currencies deepened and some analysts considering that the BTC could fall below the $10,000.

The collapse is a consequence of the impressive FTX collapse, one of the largest and most powerful players in the industry. “We need certain regulations to protect customers and to make the sector more stable,” Zhao said from a G20 business forum.

Crypto drama: Binance will not buy its main competitor FTX

Zhao, one of the most prominent figures in the crypto world, contemplated the bailout of FTX, but backed out because the operation was “not beneficial” for the firm, as he explained, in a letter to his employees that was made public.

Stronger regulation in sight

Regulators are likely to get stricter with the crypto industry after this fact. International analysts hope that the crypto bills proposed in the United States will be modified, to be able to further delay the regulation of digital currencies.

In the same sense, the Wall Street giant expressed himself, JPMorganwho issued a devastating prediction about the price of bitcoin, warning that the cryptocurrency could continue to fall another 25% after the FTX collapse, even after the bank bet on those types of assets.

The FTX empire declares bankruptcy and Sam Bankman-Fried, former king of crypto, loses his fortune

“Which makes this new phase of crypto deleveraging induced by the apparent collapse of Alameda Research and FTX all the more problematic. is that the number of entities with stronger balances capable of rescuing those with low capital and high leverage is being reduced within the ecosystem,” said JPMorgan analysts led by Nikolaos Panigirtzoglou in a note to clients seen by Marketwatch and quoted by Forbes.

Analysts said that hope that this crypto crisiscoming after a series of failures this year, could drive the price of the BTC minimums of US$ 13,000 due to a “margin call cascade” dafter the collapse of FTX.

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