$1.4 trillion wipeout hits crypto industry at Davos — except for a lone flashy orange bitcoin car
Publishing timestamp: 2023-01-18 01:12:33
Summary
Crypto companies have been less present at the World Economic Forum in Davos, Switzerland this year due to the near $1.4 trillion market wipeout in 2022. Companies that remain are focused on real-world use cases and are looking to expand their businesses. Traditional finance executives welcomed the fewer crypto firms. There was a flashy orange Mercedes-Benz car parked outside of the Blockchain Hub with the words "in crypto we trust" on the license plate, but the presence of the car was not seen as helpful for the industry's reputation.
Sentiment: MIXED
Tickers: BTC.CM=,
Keywords: bitcoin/usd coin metrics, bitcoin, davos - world economic forum, markets, davos, switzerland, blockchain, breaking news: davos, cryptocurrency, world economy, business news,
Source: https://www.cnbc.com/2023/01/18/davos-1point4-trillion-wipeout-hits-crypto-industry-at-wef.html