In the new year, retail investors and intermediaries operating in the cryptocurrency ecosystem must be wondering how much longer the trade needs hospital care to survive and recover to a state of well-being.
2022 was a year to forget for crypto: Bitcoin and ethereum prices fell near 60 percent in the year in a risk-averse environment; stablecoins TerraUSD and Luna collapsed; trading volumes at some of India’s leading crypto currency exchanges plunged by nearly 90 percent due to high taxes; and by the year-end the FTX exchange had filed for bankruptcy after a bank-type run and its founder Samuel Bankman-Fried faces conviction.
(This story appears in the 27 January, 2023 issue of Forbes India. To visit our Archives, click here.)