The 2022 cryptocurrency market scene has been impacted by depressed prices, which has partly translated to several entities going bankrupt amid the sustained bearish conditions. 

In this line, E.B. Tucker, the director of precious metals royalty and streaming firm Metalla Royalty has warned of more impending bankruptcies for crypto entities, he said during an interview with Kitco News on November 26. 

According to Tucker, the crypto industry bankruptcies do not mean the sector will go away, noting that the current state is mainly due to excess speculation. 

“Most of these entities associated with crypto will go bankrupt. So that doesn’t mean that crypto goes away; it just means that the speculation was so out of control that you had so much hoping and leveraging and betting and gambling going on. The hangover is going to be intense,” he said. 

(By Justinas Baltrusaitis)