'Pay more attention' Ethereum co-founder says of crypto crash

FILE PHOTO: Souvenir tokens representing cryptocurrency networks Bitcoin, Ethereum, Dogecoin and Ripple plunge into water in this illustration taken May 17, 2022. REUTERS/Dado Ruvic/Illustration

DAVOS, Switzerland (Reuters) - Ethereum's co-founder Gavin Wood said cryptocurrency investors need to be more aware of what is backing their holdings after a market rout which wiped more than $800 billion off their value.

"I would hope that people pay more attention to what is belying the currency name when they get involved in a community, ecosystem, economy," Wood told Reuters on the sidelines of the World Economic Forum in the Swiss Alpine resort of Davos.