The International Monetary Fund (IMF) believes that more crypto projects may fail in the future.
IMF official Tobias Adrian warned that more crypto projects could fail in the future. It is worth remembering that the current crypto crisis started with the collapse of TerraUSD.
According to Adrian, fiat-backed stablecoins are likely to suffer in the future.
The IMF director believes that digital assets could see further sales if the US economy enters a recession.
However, the Fed is expected to announce another major rate hike to rein in inflation.
Massachusetts Senator Elizabeth Warren has criticized the Fed’s aggressive monetary policy that could trigger a devastating recession.
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