Does Evergrande’s $300B debt crisis pose systemic risk to the crypto industry?
Cointelegraph
Published Sep 16, 2021 05:26AM ET
Updated Sep 16, 2021 07:00AM ET
Amid speculation as to whether China’s second-largest property developer, Evergrande Group, will default on its $300 billion in debts, analysts are wondering whether the firm’s collapse could pose contagion risks for the crypto industry.
On Sept. 8, Fitch Ratings asserted it “appears probable” that Evergrande will default on its debts, with the firm having since conceded that it will be unable to sell properties or other assets in its possession quickly enough to service its rapidly mounting debts.
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Written By: Cointelegraph
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