What's next for crypto as FTX collapse triggers 'Lehman moment'? | CNN Business

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What's next for crypto as FTX collapse triggers 'Lehman moment'? | CNN Business
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The trillion dollar crypto industry may see more regulation in the future

There are still many unanswered questions. But two big ones loom: How far will the damage spread? And can the beaten-down crypto industry bounce back? Industry insiders are debating whether to call the implosion of FTX, which filed for bankruptcy on Friday, a “Lehman moment,” referring to the 2008 collapse of the investment bank that sent shockwaves around the world. Many think it’s an apt comparison.

The price of the Solana digital coin has also been battered thanks to reports that Bankman-Fried’s trading firm, Alameda Research, had sizable holdings. The Tether stablecoin, which is supposed to be a safe place to park cash, recently broke its one-to-one peg to the US dollar. And crypto lending platform BlockFi said Thursday that it was pausing customer withdrawals. Traditional investors have also been burned, though they’re reassuring clients they can handle the fallout.

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