From Investing.com: 2024-05-11 09:01:01

UBS cautions against cryptocurrencies due to central bank actions affecting growth and investment appetite, with high correlation and turmoil in the industry from events like Terra Luna’s collapse and FTX’s bankruptcy. Alameda’s significant SOL investment suffered from FTX’s downfall, impacting the broader crypto landscape and highlighting risks of wrapped Bitcoin and Ether. Venture capital exposure to digital assets remains low but faces questions on potential losses and manager survival. UBS sees industry maturation through boom-and-bust cycles, advocating for realistic valuations and better regulation in the future.

Read more at Investing.com: Why Solana was hit hard by the collapse of FTX? UBS explains By Investing.com