Tags: crypto currency | economy | crash | ftx

Could Crypto Collapse Crush Broader Economy?

(Getty Images)

By    |   Friday, 02 December 2022 06:14 AM EST

Even though the stock market teetered and prices of cryptocurrencies plummeted after the recent implosion of crypto exchange giant FTX, economists don't believe the asset class of crypto is large enough to impose significant implications for the broader economy – yet.

While the market reacted by pulling back after hundreds of thousands of investors lost billions of dollars combined from their electronic wallets seemingly overnight, experts don't believe that a crypto collapse will have the same effect as something like the Great Financial Crisis in 2008 because the dive will likely only impact those playing in the crypto sandbox.

Marisa Herman

Marisa Herman, a Newsmax senior reporter, focuses on major and investigative stories. A University of Florida graduate, she has more than a decade of experience as a reporter for newspapers, magazines, and websites.

© 2024 Newsmax. All rights reserved.


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Even though the stock market teetered and prices of cryptocurrencies plummeted after the recent implosion of crypto exchange giant FTX, economists don't believe the asset class of crypto is large enough to impose significant implications for the broader economy - yet.
crypto currency, economy, crash, ftx
981
2022-14-02
Friday, 02 December 2022 06:14 AM
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