Call us now:
One suspects there will be plenty of analysis of crypto over the coming weeks and months. With many lessons to be learnt, lessons that would probably not have been listened to during rise of crypto, filling the market bubble. Raising many questions, questions will be levelled not just at the crypto industry, but at regulators, auditors and accountants.
As the dash for crypto took hold and the unregulated market surged to over $65k, some currencies gained over $700,000. Gains that were uncontrolled in part due to no regulation, creating crypto millionaires overnight. Creating wealth is good, but creating it from thin air is a little difficult to justify.
Things are now different, at least 7 crypto exchanges have filled for bankruptcy, liquidity has left the market and regulators are now likely to act. It may take some time for crypto to re-invent itself and one suspects it will be reinvented under the management, control and oversight of regulated markets. One thing is certain, the crypto story will keep being written and told for a few more years.
Ted Dziekanowski
#crypto #cryptoregulation #theaugustagroup
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