Morgan Stanley believes there will be major new bankruptcies in the industry
Regardless of the long duration of the crypto winter and the collapse of FTX, cryptocurrency will still be used abundantly in the future.
According to Coindesk, analyst firm Morgan Stanley expects further bankruptcies of crypto industry players and deleveraging. This is a publication from catalogue cryptodefix. Following the collapse of FTX, the market is now re-evaluating the value of the project’s issued tokens and trying to figure out if they were used as leverage.
Despite the fallout from FTX, financial analysts believe that the industry will see a new dawn and will continue to be profitable. The industry is still focused on building digital asset infrastructure, but experts believe it won't enter everyday life until 10 to 15 years from now.
Morgan Stanley expects further deleveraging, focusing on the declining capitalization of stablecoins, especially Tether (USDT).
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