WEF’s Annual Summit in Davos: Crypto Industry in Crisis? By CoinEdition

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WEF’s Annual Summit in Davos: Crypto Industry in Crisis?

Cryptocurrency Jan 19, 2023 09:00AM ET

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WEF’s Annual Summit in Davos: Crypto Industry in Crisis?

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The annual summit of WEF in Davos commenced on January 16.

When comparing the last conference, the number of crypto enthusiasts was fewer.

The attendees discussed their doubts regarding crypto and advocated for crypto regulation.

The World Economic Forum’s (WEF) annual summit commenced on January 16 in the snowy Davos, Switzerland, intending to discuss various topics among which crypto and crypto regulations are a major part.

Notably, the crypto conference has been enriched with different groups including the Global Blockchain Business Consortium, Casper Labs, Circle, Filecoin Foundation, the Commodity Futures Trading Commission (CFTC), United Nations representatives, and lawmakers from different countries.

However, unlike last year’s summit, the groups gathered were less interested and more skeptical about crypto. The long-lasted crypto winter and the fall of FTX and other crypto exchanges had a severe impact on the crypto industry as a whole.

Jeremy Allaire, CEO of USDC stablecoin issuer Circle commented about the “lot of nonsense” in crypto:

I hope there’s an increased focus on utility value and practical applications of the technology, and less focus on retail investors chasing meme coins.

In addition, the necessity of crypto ...

The post WEF’s Annual Summit in Davos: Crypto Industry in Crisis? appeared first on Coin Edition.

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WEF’s Annual Summit in Davos: Crypto Industry in Crisis?

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