The CEO of crypto fund Pantera Capital, Dan Morehead, believes the worst of the crypto downturn may be over.
Morehead, whose firm manages assets totaling approximately $5.1 billion, says the worst of the crypto crash occurred in May and June when the stresses in the system peaked.
“I think we’re really close to the end. In any leverage situation and particularly with DeFi [decentralized finance] smart contracts, things do get liquidated pretty quickly.
And the market’s actually been going down for eight months. The high was in November so whatever stresses we were going to see in the system, they basically peaked in May and June. We already have companies that are in bankruptcy court liquidating.
It feels like we have seen all that