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How far will the crypto contagion go?

We are back with a new video, How far will the crypto contagion go?

How far will the crypto contagion go? It's been a tough two weeks for the crypto industry. First, there was the implosion of popular exchange STX, which left many investors with losses.

Now the billion dollar question is who might be next? There are a few exchanges that could be in trouble, depending on how the market shakes out. One thing is for sure if another big exchange goes down, it could spell disaster for the entire industry.

So far, crypto has been able to weather these storms. But if another exchange falls, it might not be so lucky. We may know soon as block fuser portably planning to file for bankruptcy. The crypto lender, which held nearly $4 billion in customer assets, paused withdrawals this month.

Crypto lender genesis suspended new loans and redemptions. Gemini exchange that used genesis to offer a yield product also caused some redemption. Crypto.com tried to reassure investors it would not follow. FTX nine exchanges now say they'll offer up proof of reserves to show they still have customers assets. Crypto contagion spreads because crypto's exchanges are highly leveraged. If a crypto lender or exchange lends its customers assets to a hedge fund like three arrows or alameda, which then uses those assets to generate yield, aka earn crypto interest and make risky bets, one bad investment can do a domino effect toppling the whole lot. If you love star bucks, there's a good chance you're addicted to it. Like us. The law offices of Omar knows that everyone loves free coffee. We are giving away free star bucks gift cards when you retain us as your attorney. So if you love coffee, give us a call today for a free consultation at 626-338-5505 and retain our services for your free star bucks gift card.

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