Declining sharply due to the bear market to cryptocurrencies Finally, crypto investors, whose confidence in FTX and its sister company Alameda ResearchHis confidence was damaged by his bankruptcy.
The bankruptcy of FTX and Alameda Research Bitcoin (BTC) and crypto- assessing its impact on the industry Bank of AmericaHe said that these bankruptcies have dealt a major blow to the credibility of the cryptocurrency industry.
Despite the decline in cryptocurrencies and the FTX bankruptcy, the report by BoF analysts Alkesh Shah and Andrew Moss blockchain technology has been accelerated.
Analysts, drawing attention to the urgency of regulations in the crypto sector, said that these regulations cryptocurrencyHe said it will be the key to increasing adoption.
“A growing urgency for regulation, with greater institutional involvement, can shift focus and capital from speculative trading to projects with real-world functionality and companies with roadmaps to profitability.
In this context, we see regulatory frameworks for the crypto industry as critical to mainstream adoption.
We also think a coordinated global effort should be made to protect consumers and investors.”
Saying that the disconnect of retail and institutional investors from the crypto industry may put more pressure on crypto prices, Bank of America is among the top 100 companies. cryptocurrency He noted that its unit has dropped 64% since the start of the year, but is still up 2.175% since the end of 2016.
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