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Evening Standard

Business

Simon Hunt

Crypto analyst warns of 2008 financial crash-style ‘domino effect’ as Bitcoin prices plunge

More than £10 billion was wiped from the value of Bitcoin in a matter of minutes on Friday morning
(Picture: REUTERS)

A crypto analyst has warned of a 2008 financial crash-style “domino effect” as more and more companies teeter on the edge of collapse amid plummeting Bitcoin prices.

Lennix Lai, Director of Financial Markets, OKX, said: “The domino effect we’re seeing among crypto firms is akin to the 2008 financial crash among Wall Street firms.

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