These are dangerous times in crypto. Beyond the epic drawdown lies a toxic mess of hubris, internecine conflict and highly complex cross-jurisdictional litigation, writes Grant Wilson.
Up until mid-May, there was still some debate as to whether the drawdown in crypto should be referred to as a “crypto winter”. That debate ended with the collapse of Terra, which had the dual impact of extending the drawdown into historical territory, and providing a meme-worthy reference point.
For context, the crypto winter of 2014-15 was principally a function of first-generation hacking of crypto exchanges, with Tokyo-based Mt Gox the exemplar. Similarly, the crypto winter of 2018-19 came to be typically associated with the collapse of the Initial Coin Offering boom.
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Grant Wilson is Executive Chair of Tivan Limited, a critical minerals company with major project status in the Northern Territory. He sits on the Advisory Board of Exante Data, Inc, a macro advisory and data analytics company based in New York. Connect with Grant on Twitter.
