9/1/2021- 12:27 p.m.
Washington – Crypto investments partly to blameThe European Securities and Markets Authority (EMSA) has warned of a massive market collapse if the current trend of risky investments in cryptocurrencies continues, fueled by high debt, rising mobile trading apps and social media influence.
“We expect to continue to see a prolonged period of risk to institutional and retail investors of further possibly significan market corrections and see very high risks across the whole of the ESMA remit,” their statement said.
The EMSA added that juicy prospects of accessible, quick returns via platforms such as Robinhood are not helping break the vicious cycle of public and corporate debt pressuring banks to prop up the fragile economy.
