IMF Deputy Managing Director Remarks on ‘Very Quick Moves’ in Crypto Market

Gita Gopinath, deputy managing director of the International Monetary Fund (IMF), has indicated that crypto assets are dangerous, and she has stayed away from them. In an interview at the World Economic Forum’s Annual Meeting in Davos, Gopinath said that. “I have completely stayed away from it [crypto]. But that’s just me and my level of risk aversion. The IMF official also noted the recent decline in the “speculative” asset class, emphasizing that it is not a market with “easy returns.” She said, “It went from about a $3 trillion market to a $1.5 trillion market in about six months — very quick moves. It is not a very easy-return investment. So these are very large risks you are taking,” #EXCLUSIVE: Economist @GitaGopinath on crypto trading.Says, "Crypto assets are a very risky asset class."#Economy #Newstrack #IndiaTodayatDavos | @rahulkanwal pic.twitter.com/41E3m5A9mM — IndiaToday (@IndiaToday) May 23, 2022 Volatility isn’t Enough to Keep Crypto Out At the Summit, IMF managing director Kristalina Georgieva reportedly stated that investors must make informed decisions as the Terra-led slump hounds the market. She said, “The less there is backing it, the more you should be prepared to take the risk of this thing blowing up in your face.” Following the de-peg of the Terra UST stablecoin, administrators and officials have called for rapid regulation of crypto assets. Especially since BTC’s comeback was very temporary, in the pr...