A Failed FTX-Binance Deal Is ‘Catastrophic’ for Crypto Sector

However, it may not be a total exodus for institutional investors as they already have a large presence into the sector. “Whatever the outcome is, I don’t think it will lead to institutional investors significantly pulling money from the sector,” said Kevin March, co-founder of cryptocurrency prime brokerage firm Floating Point Group. “Anyone that is here right now, is here to stay … We’re still having conversations with institutions who are interested and trying to figure out how to enter the space this week despite the backdrop,” he added.