The bankruptcy of competitor FTX in November plunged the crypto industry into a deep crisis.
(Photo: Getty)
new York Jim Chanos stays on course. The well-known short seller and head of the New York investment company Kynikos Associates has been betting on a price collapse at the largest US crypto exchange Coinbase for weeks. And with good reason: the bankruptcy of competitor FTX in November plunged the industry into a deep crisis. The US regulators have launched a new offensive to make it significantly more difficult for crypto companies to access the classic banking system.
So it is actually obvious that the listed crypto companies are also feeling the pressure. At the end of 2022, the calculation was still working. This year, however, a number of crypto stocks are among the big winners. Coinbase is up 93 percent since early January.
The course of the neo-broker Robinhood, which also offers crypto trading, rose by 25 percent. Microstrategy, a software company that has been aggressively buying the main cryptocurrency bitcoin for years, is up 82 percent.
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