Starkiller Capital General Partner and CIO Leigh Drogen joins Yahoo Finance Live to discuss how crypto markets are faring following the FTX collapse, hedge fund trends in the crypto space, and how to get a return as a crypto investor.
Video Transcript
DAVE BRIGGS: FTT, the FTX token, popping after the new FTX CEO, John Jay Ray III, left open the possibility that the crypto exchange could return– yes, return. In an interview with the “Wall Street Journal” Ray says, quote, “everything is on the table,” end quote, in regards to the company, including a potential comeback if it provides a pathway to return money to investors and other creditors. He went on to say they are speaking with stakeholders who say they have identified what they see as a viable business. Who would have thought?
Crypto was less a topic of conversation in Davos than it was in years past. It was more of a punching bag in the wake of FTX’s collapse. JPMorgan Chase CEO Jamie Dimon doubling down on his pet-rock analogy and adding a little flavor and calling it a “hyped-up fraud” this morning. Here’s what Brian Sozzi and Julie Hyman heard about crypto.
MICHAEL GRONAGER: I think Bitcoin prices will come back, but it will come back in a way more organized way than expected. It will follow the interest rate. So when interest rate starts to fall, the Bitcoin price will come up. And everyone will ask, why did the Bitcoin price go up? Because of falling interest rates.
NOURIEL ROUBINI: FTX and SBF are not an…
