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Recession to further delay digital asset industry recovery


The digital asset industry is expected to rebound only by 2025 following a possible economic recession this year. A source from Asian crypto exchange Zipmex said that digital assets typically follow a four-year cycle. The source said the industry this year should be quite similar to last year, with a recovery projected for 2024. But things could change if there is a recession, which is possible. With that scenario, people would have lower purchasing power, which means they will have less money to trade or invest and this could delay the recovery until 2025. Zipmex Thailand faced scrutiny after Babel Finance, a Hong Kong-based crypto lender, was found to have lost roughly USD280m worth of Bitcoin and other tokens through failed proprietary trading of customers’ assets.

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