DAVOS, Switzerland : In the snow and ice on the main drag in Davos, the impact of the crypto winter is plain for WEF attendees to see.
Some of those from the digital industry which have set up shop on the fringes of the World Economic Forum annual meeting were quick to distance themselves from cryptocurrencies. "I would question some of the stuff that I saw, 'What is the return on that?'" Tokarev added, referring to the big presence of crypto companies at the last WEF meeting, which was unusually held in May as a result of the COVID-19 pandemic.
The market capitalization of crypto currencies has shrunk by $1.4 trillion, a third of its value from peaks hit in late 2021 and some of the best-known crypto firms are under stress or have gone under, including the collapse of crypto exchange FTX. "We kind of dodged a bullet," Kelleher said, noting that the collapse in the value of crypto currencies had not caused systemic problems."We did have investors who did want to invest in coinage. And we had to draw a line on what was suitable for those investors," he added.
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