Crypto Price Check: Bankruptcies Taking Sector into Uncharted Waters

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The Street

By Rob Lenihan The fall of integral crypto players has triggered ‘a downward spiral’, one analyst says, that’s taken other crypto investors and companies down with it. Cryptocurrency is heading uncharted territory. The sector has been hammered recently by a slew of damaging developments, including the bankruptcies of some major players. “The crypto market is undergoing a profound de-leveraging process right now,” said Winston Ma, managing partner of CloudTree Ventures, and author of “The Hunt for Unicorns, China‚Äôs Mobile Economy and Investing in China.” Bitcoin was up 1% to $22,318 at last che…

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