The crypto & NFT crash
Bitcoin-USD (BTC-USD), 3M, 17/02/2022-17/05/2022. |?Source: SOSA based on data from?Yahoo Finance.
Both institutional clients (that traded $1.14T in 2021, up from just $120B in 2020), as well as the American public (14% of Americans were invested in digital assets as of 2021), are?affected?by the crypto crash. And indeed, a myriad of factors influence this decline, including the stock market's status. There are many reasons why we find ourselves here, but the more important question is: how do we find a way out?
At SOSA, we believe tech can always help. When it comes to crypto, risk management solutions such as fraud prevention and identity verification technologies are already commonplace. But what this new (crashing) landscape has shown is the importance of assessing speculative risk and preventing the devaluation of these digital financial assets. How is this done? AI platforms, predictive technology, and analytics, to name just a few.