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27.10 - 19:17
Bitcoin & Crypto Drop Alongside Stocks On China's Evergrande Spillover Risks
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As the problems related to the Chinese property development giant China Evergrande continue to mount, investors in everything from stocks to bitcoin (BTC) and the broader crypto market are worrying about the potential spillover effects a Chinese “Lehman moment” could have.
As China’s second-largest property developer, China Evergrande holds more than USD 300bn of debt, placing the company as “the world’s most indebted property developer,” per CNBC.
The company has repeatedly seen its ratings cut by international ratings agencies, and has itself warned on multiple occasions that it could default on its debt.
And although not at first sight related to bitcoin, some industry insiders are increasingly concerned about the impact such a large
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