Aug 30, 2023

How Will Evergrande’s Collapse Impact the Crypto Market?

Grayscale Victory Against the SEC and Chinese Real Estate Giant Evergrande’s Bankruptcy On the latest episode of The Market Report, Cointelegraph crypto analyst Marcel Pechman discussed Grayscale’s win against the United States Securities and Exchange Commission (SEC) and the implications of Chinese real estate giant Evergrande’s bankruptcy. Despite the lack of a decision yet on…

Latest news on Evergrande's collapse and its potential silver lining for crypto investors.
Will Evergrande’s collapse have a silver lining for crypto?

Grayscale Victory Against the SEC and Chinese Real Estate Giant Evergrande’s Bankruptcy

On the latest episode of The Market Report, Cointelegraph crypto analyst Marcel Pechman discussed Grayscale’s win against the United States Securities and Exchange Commission (SEC) and the implications of Chinese real estate giant Evergrande’s bankruptcy. Despite the lack of a decision yet on Grayscale’s application for a Bitcoin (BTC) exchange-traded fund, the outcome was favorable for Grayscale and its Grayscale Bitcoin Trust, which has more than $16 billion in assets under management.

Pechman then focused on the impact of Evergrande’s bankruptcy, which was made public after almost two years. According to The Kobeissi Letter, the delay may be related to China’s recent, unexpected cut in interest rates.

The crypto expert also discussed China’s recent attempts to stimulate its stock market. He argued that if the Chinese markets eventually collapse, it would be negative for risk-on assets, including stocks, cryptocurrencies, and commodities. However, he suggested that one to 10 months later, investors may turn to Bitcoin as they become aware of the government’s need to inject liquidity, which could benefit crypto.

In the most recent episode of The Market Report, available on the recently launched Cointelegraph Markets & Research YouTube channel, Pechman discussed the fate of the 16 trillion Pepecoin (PEPE) tokens reportedly stolen and gave guidance on how to avoid getting rug-pulled on altcoins. For further insights into the latest crypto, web 3.0 stocks, AI stock, Luna Crypto, how to invest in web 3.0, real time crypto, and when web 3.0 will be released, tune in to Voyager Crypto and Crypto Today for the latest updates.

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