Will crypto contagion spill over to the wider market?
It seems likely that investors will continue to face loss and uncertainty in the crypto markets. Meanwhile, allegations of fraud and mis-selling are adding to the negative sentiment.
The shock waves from the cryptocurrency downturn in recent weeks have yet to impact the wider financial markets. But the contagion that has gripped crypto and its various decentralised finance (DeFI) platforms is of major concern to investors in Asia.
A mainland Chinese family investor, speaking anonymously, told AsianInvestor: “There’s a high correlation with the fears in the public markets; particularly US, European, and Asian equities. I didn’t expect this correction to happen …
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