BlackRock CEO Larry Fink says the leverage washout that crashed crypto markets is over.
Bitcoin (BTC) now shows “more stability at these levels,” he told CNBC on July 15
Fink spoke after BlackRock reported record second-quarter results. Days later, US spot Bitcoin exchange-traded fund (ETF) flows turned positive after their worst month since the products launched. What Larry Fink Said About Bitcoin and Leverage Fink made the comments while answering a question about leverage risk in South Korea’s stock market.
He argued that global markets carry far less leverage today than in 2008 and 2009. https:// Crypto, in his view, was the exception. That excess has now been flushed out, he said, in the selloff that erased roughly $2 trillion from the market this year. “I was always worried about the leverage in Bitcoin and crypto. There was too much leveraged players in it.