CFTC Commissioner Views Crypto Crash As Similar to the 2008 Banking Crisis

Given the turbulent market condition in the past weeks, CFTC commissioner Christy Romero laid out two main risks in the crypto space as she viewed the rapidly growing industry as similar to the banking sector in 2008.

Firstly, she noted that both have a “pretty sizable market that is not regulated.” Secondly, the markets are highly correlated with the broader equity markets, citing bitcoin’s rise and fall with the tech-heavy Nasdaq index.


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