Bankrupt crypto exchange FTX's creditors number in the millions, but so far most stock investments — and investors — have been spared from the fallout.
The shockwaves from FTX’s quick collapse into bankruptcy last week are raising urgent questions on the risks to financial markets beyond the troubled cryptocurrency exchange’s balance sheet. At least so far, analysts don’t believe the fallout has upended retail investors on the whole.
“We are not seeing any spill-over effects from the crypto meltdown yet,” said analysts at Vanda Research, a firm analyzing the moves and trends of everyday traders and investors, on Wednesday. Daily retail investor inflows to U.S. stocks and ETFs have averaged $1.23 billion, according to Vanda. The cryptocurrency market is “too small and too siloed to cause contagion in financial markets,” Citi analysts have said.
That’s up from 42% in January, a result that preceded bankruptcies for other cryptocurrency exchanges: Voyager Digital and Celsius Network. There are open questions regarding whether creditors — which include account holders — can recoup their assets, bankruptcy experts told MarketWatch.
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