Post-crash reflections

After months of research into the world of crypto, in preparation for its governance series on this topic, reflections from The NED on where the digital asset industry is going, on the eve of what looks like a very busy autumn ahead.

Without wishing to tempt fate, it appears that crypto crash of the spring and early summer is over. The crash has been called an exercise in ‘industry cleansing’ by Chris Terry of SmartFi, a crypto lending platform, and a BPSAA Board Member.

Despite losing well over a $1 trillion in assets, in just a few weeks, it looks like almost all redemption requests have been met. The crypto lender, Celsius Network, did freeze redemption requests, leaving 1.7 million customers unable to make withdrawals, but that appears to have been a one off. Overall, and given the scale of loses, this is quite an achievement.

To read more on this story see the August issue of The NED.