Even as crypto lender BlockFi has filed for Chapter 11 bankruptcy protection in the US; Hong Kong-based crypto exchange Atom Asset Exchange (AAX) is reportedly wiping out some of its social media presence; and crypto broker Genesis works overtime to avoid filing bankruptcy, industry players have warned that the market sentiment is “extremely bearish” and the contagion is far from over.
“We still haven’t seen the full scope of the contagion effect yet,” Sanjay Popli, co-founder of crypto consulting firm Cryptomind, told DealStreetAsia.