Citi analyst warns of dire risk to crypto ecosystem from FTX failure and makes a forecast for a deep Crisis in the crypto world.

An analyst from Citi noted the problems for the cryptocurrency arising from the collapse of FTX, which according to him have taken a very serious shape. He clearly warned that this decline could be prolonged if crypto does not find a lender. He added that the crypto industry does not have any significant lenders. In an interview by analyst Joseph Ayyub, it was stated that the FTX problem is ravaging and ravaging the crypto industry. He said that it is unlikely that this infection will spread widely in the market, but going forward, the sector will face new skepticism of companies and precise issues of trust, which is an extremely difficult task. The analyst also said that no predictions work in the crypto sector nor can we say how deep and how deep you have to go because you yourself don’t know how long any problem can last. Is. , you have no idea but still with the number of companies involved and after the bankruptcy declaration of FTX and Chapter 11 we can definitely say that this problem is not going to end any time soon it may take a long time to end which Recent data make that clear. Citi analysts, unlike Binance CEO Changpeng Zhao (CZ), believe that the FTX crash is different from the 2008 financial crisis when the government acted with massive cash injections and Wall Street Salvaged the According to him it now seems an irony that we used to think that Sam Bankman-Fried and FTX were providing some sort of lender of last resort alternative… but now it seems that there are no significant lenders left.
Analysts at JP Morgan said last week that fewer players in the crypto space are able to protect weaker players, meaning that the number of strong balance sheets able to protect those with less capital and leverage is shrinking, and it is an estimate and a prediction that The price may drop further towards $13000.
Although we can understand that after the bankruptcy of FTX, there is a deep crisis in the crypto market which is haunting its investors as a serious concern and we can also finally say that the crisis is big enough that it will not happen soon, Not going to end.