The meltdown on Luna and stablecoin Terra in mid-May had sent the price of Bitcoin to under USD30,000 as the Luna Foundation Guard released more than 90% of its approximately 80,000 Bitcoin reserve in an attempt to defend the peg between Luna and Terra. This effort, which was proved to be futile and now both the price of Luna and Terra, as at the time of writing, were virtually worth zero.

The recent negative news on cryptocurrency market does not impede investors’ interest in investing in this asset class. The first Australian crypto exchange-traded funds (ETFs) began trading on May 12.  These ETFs are also listing on the COBE Exchange and are fully backed by assets stored in cold storage.

At the same time crypto trading platform FTX is expanding its presence in the US equities market. The US arm of Bahamas-based FTX acquired a regulated broker-dealer last year. Beginning on May 19, the chosen customers are able to use FTX US to buy stocks, ETFs and digital assets.

With the increasing popularity of cryptocurrency trading, many developed countries started to develop regulations to protect investors. The G7 countries have urged the Financial Stability Board to accelerate crypto regulations after the downfall of the Terra blockchain. It is foreseeable that the demand of professional services from the industry players will proliferate due to the tighten scrutiny.

Valtech has experience in valuation of crypto-related businesses. Our team consists of professionals from different backgrounds to ensure that your needs are well taken care of.