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🚨 Warning from David Bailey: The DeFi credit crisis could spread to CeFi ⚠️📉
- David Bailey, Trump's cryptocurrency advisor and chairman of Bitcoin Magazine, has just issued a serious warning about the state of the cryptocurrency market.
1. He is concerned that the credit crisis in the DeFi lending sector is developing into a widespread cryptocurrency liquidity crisis.
2. If the collateral is not sufficient to meet margin calls or risk mitigation fails, the crisis can spread from DeFi to CeFi (centralized finance).
3. Bailey likened this to the "second wave of shock" since the collapse on October 11, a record liquidation in the history of crypto.
4. He calls on investors to stay safe and avoid partner risks during this unstable period.
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