The crypto asset manager Wave Financial, which predicted the FTX collapse, has now made a new claim. He suggested that some of the top 10 crypto exchanges by volume have already collapsed functionally and many will “explode” like FTX.
CEO of Wave Financial David Siemer In a year-end client meeting he attended last week, he said that many stock markets will FTX like “will explode” He claimed. With these collapses, for the crypto money ecosystem, more notoriety Stating that this will bring the future, the CEO thinks that the regulatory authorities will focus more on the crypto sector.
Wave Financial, under Siemer, had withdrawn all client assets from FTX weeks before the collapse. Speaking about his rightful prediction about FTX, Siemer said, “We knew what was going on” His statements were noteworthy:
We were holding client assets there a week or two before the FTX crash. But we knew what was going on long before a real problem arose or we started to hear what was going on and we removed all assets from the stock market.
That the bankruptcy process for the stock markets will not end here, and “that the pain will continue” Referring to the CEO, in terms of volume targeted the top 10 exchanges:
Our expectation is that there are probably loads of other exchanges that are functionally bankrupt. Some of them are even in the top 10 exchanges. At this point, we sit and wait to see when they explode.
On the other hand, Wave Financial, trying to turn these bankruptcy situations into opportunities, continues to offer offers to crypto companies that are bankrupt or failing. Asset manager, cryptocurrency platform that filed for bankruptcy in July Voyager DigitalIt was among the companies that bid for the assets of . In addition, Wave Financial recently based in Switzerland investment firm Cryptonite Asset ManagementIt has also announced its intention to buy .
I don’t think anything will happen to Binance.
Lately Binance While speculation about the FUD news and the assets of the stock market continued, the CEO of Wave Financial also included this issue in his statements. Siemer stated that he does not think Binance is among the exchanges that could go bankrupt. Siemer, who did not include Binance in the list of exchanges close to bankruptcy in the top 10, “they are the largest stock exchange in the world” He made statements that reassured investors.
I don’t think Binance loses money the way FTX loses most of its money. They don’t have any hedge funds attached to them and they manage their money well. It was the odd bets of this type of fund that bankrupted FTX.