This is undoubtedly a difficult period for crypto.
With the Federal Reserve catapulting interest rates higher in recent months in an effort to tame inflation, “risk-on” assets like stocks and crypto have been driven into a deep funk…with the prices of major tokens like bitcoin and Ethereum down markedly since the start of this year.
Yet despite this (and to the surprise of some), the number of crypto billionaires is believed to have grown, rather than fallen.
So recently, I sat down with Field Notes Managing Editor Ciaran Madden to explain how the world has gotten more crypto billionaires, not fewer, even amid the current crypto downturn.
Check out the video of our conversation below…
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