Kraken Co-CEO And Barry Silbert Warn Of Crypto Bubble; 99% Tokens Could Tank

Concerns about a potential crypto bubble have intensified over the past few days, with industry leaders like Arjun Sethi, co-CEO of crypto exchange Kraken, voicing alarm over the current state of the digital asset ￰0￱ Warns Of Short-Term Crypto Bubbles In a recent interview with Fortune at the Brainstorm Tech conference in Park City, Utah, Sethi acknowledged the presence of a bubble when examining short-term market ￰1￱ the panel discussion, Sethi noted, “If you look at it quarter by quarter, the answer is yes, we get into those bubbles all the time.” Related Reading: SEC Chair Declares ‘Crypto’s Time Has Come’ In Latest Statement – Get The Full Scoop Since the beginning of the year, the market’s leading cryptocurrency, Bitcoin (BTC), has achieved multiple all-time highs, contributing to a total market capitalization exceeding $4 trillion for the first ￰2￱ surge has been fueled by pro-crypto regulations stemming from President Donald Trump’s administration and crypto-focused initial public offerings (IPOs) in the United States from firms like Circle (CRLC) and the crypto exchange Bullish (BLSH).

The current enthusiasm in the crypto market can be partially attributed to its correlation with the stock market, particularly following record highs in the S&P 500 since President Donald Trump took ￰3￱ argue that these developments provide investors with exposure to cryptocurrencies that may not be accessible through traditional brokerage accounts. However, skeptics caution that many of these firms are merely capitalizing on the hype, leading to unsustainable valuations that could result in a market ￰4￱ Predicts Most Digital Assets Will Crash Recent data indicates that there may already be signs of a ￰5￱ to Architect Partners, a crypto advisory and financing firm, the average stock price of 15 digital asset treasuries dropped by 15% last week, raising red flags about the stability of the market.

conversely, Barry Silbert, founder of Digital Currency Group (DCG), expressed a more optimistic outlook during the same ￰6￱ acknowledged the presence of “overvalued assets” within the crypto space, stating, “There’s a whole lot of crap in crypto right now, which is overvalued. I think 99% of crypto is absolutely going to zero.” Related Reading: XRP Price Completes Wave 3 Move, Why $3.13 Must Be Broken Further complicating the landscape, Elliott Management, an activist investment firm, has also raised alarms about the cryptocurrency ￰7￱ a recent investor letter, the firm pointed to the rapid inflation of the so-called crypto bubble, attributing it in part to perceived endorsements from the White House during Trump’s ￰8￱ Management warned that the dramatic rise in crypto prices poses risks not only to individual investors but also to the overall ￰9￱ caution that an impending collapse of this bubble could have unforeseen consequences, potentially destabilizing financial markets at ￰10￱ image from DALL-E, chart from ￰11￱