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Guggenheim’s Minerd Warns of ‘Another Shoe to Drop’ in FTX Fallout

  • CIO who predicted Bitcoin drop sees washout like tech bubble
  • Still, he is confident currency digitization will proceed
Bloomberg business news
Guggenheim Global CIO Scott Minerd says there will be more fallout in cryptos ahead amid the FTX collapse during an interview on “Bloomberg Surveillance: The Fed Decides.”

Guggenheim Partners Chief Investment Officer Scott Minerd is warning investors there will be more shakeouts to come following the collapse of crypto exchange FTX as years of easy money end. 

“There’s another shoe to drop - I can’t tell you where it is,” Minerd said during a Bloomberg Television interview ahead of Wednesday’s rate decision from the Federal Reserve. “The reason is this is just like any number of periods where we had easy money and a lot of speculation; the weakest players fall first. Crypto was obviously something that is crazy.”