While investors are fleeing the crypto meltdown due to a confluence of macro-economic turmoil and internal factors (e.g. TerraUSD), some companies see opportunities. Goldman Sachs is planning to raise $2 billion to buy up assets at a discount from crypto lender Celsius. In another example, Crypto exchange FTX has offered a $250 million bailout to crypto lending platform BlockFi, with the supposed aim to buy the company. Earlier it was already announced that FTX and Ripple are on the hunt for acquisitions.
These developments could be seen as a sign that even though the crypto space finds itself in a pickle, and by some is even declared dead, key players with a healthy balance sheet still seem to believe in the fundamentals and are seeing an opportunity to position themselves for rosier times. Hence, is this the internet bubble moment for crypto, which suggests that a crypto boom is ahead of us? If so, the question still remains when to jump in; In its 13-year existence, crypto has not experienced a macro-economic situation like the one we find ourselves in now, leaving room for the possibility of more downward price discovery.