Crypto’s easy-money era is ending in a wave of failures
Inflated valuations and weak business models are driving crypto’s shakeout, Global Settlement Network CEO Ryan Kirkley says.
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Summary
- Crypto’s wave of closures is exposing projects that raised too much money at unrealistic valuations without building sustainable revenue, Kirkley said.
- Token-based governance and fundraising incentives compounded the problem by making it harder for projects to pivot and rewarding overly optimistic narratives.
- The shakeout comes as bitcoin approaches a potentially critical support zone, but Kirkley says governments are increasingly embracing blockchain infrastructure, just not the decentralized future crypto envisioned.
