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Sophie Mellor

BlackRock's Fink predicts most crypto firms will go under

Larry Fink BlackRock FTX Crypto Andrew Ross Sorkin BankmanFried Sam Bankman-Fried

Larry Fink with Aaron Ross Sorkin (Credit: Michael M. Santiago—Getty Images)

BlackRock boss Larry Fink sees a definite need for cryptocurrencies and distributed ledgers in the future. But he doesn’t see any of the existing crypto companies surviving long enough to make it happen.

The CEO of the world’s largest asset manager believes most crypto companies will fold in the wake of the collapse of Sam Bankman-Fried’s FTX empire, as mistrust permeates the decentralized finance market.

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