The largest bank in the United States thinks that regulators may hasten cryptocurrency regulations as a result of the abrupt collapse of the FTX coin enterprise. JPMorgan claims that the creation of a thorough regulatory framework would be beneficial for institutional adoption.
The bank also pointed out that decentralized protocols, not centralized sector participants, were to blame for any recent bitcoin crashes. This might be good news for the decentralized finance (DeFi) industry.
According to a recent forecast by JPMorgan, the market would be unable to handle a cascade of margin calls and the price of Bitcoin would drop to $13,000 as a result of FTX contagion.
Earlier today, the largest cryptocurrency’s price continued to decline as a result of the troubled exchange declaring bankruptcy. Changpeng Zhao, CEO of Binance, recently stated that the present cryptocurrency crisis would worsen and compared it to the financial collapse of 2008.
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