When crypto boom goes bust

Bubble burst: With bitcoin’s price nearly halved since hitting a record high above US$126,000 last October – and other digital tokens sliding even further – Vietnamese crypto startups, from NFT ventures to blockchain-based lending and trading platforms, have been battered, as bankruptcies and layoffs roil the industry. — AFP

As a first-year computer science student in Hanoi, Hoang Le started trading crypto from his university dorm room, egged on by his gamer friends who were making a killing.

At one point his digital holdings swelled to US$200,000 (RM785,00) – around 50 times the average annual income in Vietnam.