Those misguided, greedy or incompetent souls still tied to volatile digital assets may be about to discover that the worst is still to come. Frozen assets await a crypto-thaw that may never come.
Businesses and exchanges are set to crumble and fall in the months ahead, extending the rout of cryptocurrencies that may yet turn out to be terminal.
According to today’s SCMP, Asia’s doyens of digital assets face a quandary that is as clear as it is daunting: how to restore faith in cryptocurrencies and NFTs as their value tanks, while convincing investors that the new financial order is better than the previous one.
Yusho Liu, co-founder of Singapore exchange Coinhako, says the game is far from up for digital coins despite the bitcoin embarrassment after the fall of FTX. The world’s third-largest cryptocurrency exchange with more than one million users turned out to be fraud more…
