Price is the story, or how retail is adopting crypto 💸; The crazy FTX story is getting even more ridiculous 🤯; Can the license save Bitpanda? 🐼
FinTech is Eating the World, 24 November
Hey Everyone,
Happy Thursday & Happy Thanksgiving to everyone who’s celebrating 🦃 Today’s issue is super interesting and packed with loads of information. Today we’re looking at why the price is the story, or how retail is adopting crypto (a look into the recent crypto study with some remarkable charts), the crazy FTX story that’s getting even more ridiculous (we’ll look at shocking new findings), and question whether a license can save Bitpanda? (it’s a good play but they have some other massive challenges). So let’s jump straight into the amazing stuff:
Price is the story, or how retail is adopting crypto 💸
New data 📊 The Bank of International Settlements (BIS) has recently published a study on retail crypto trading. It covers 95 countries from 2015–2022 and has some remarkable charts. Let’s take a look.
More on this 👉 Here are the key findings of the study:
The group of top downloading jurisdictions comprised both advanced economies such as the US, Canada, Australia, the UK, the Netherlands, Ireland, and NZ as well as emerging markets like the UAE, Hong Kong, Korea, Singapore, El Salvador, and Turkey.
Crypto adoption, measured by the number of total downloads per 1M people, is highest in Turkey, Singapore, the United States, and the United Kingdom. It is lowest in China and in India, where legal restrictions likely prevent greater retail adoption.
Ukraine & Turkey are currently the countries with the highest average monthly crypto exchange app usage per 100k people. War and massive inflation are probably the key drivers of this.
The largest group of users by far – nearly 40% – were men under the age of 35. Less than 35% of all users globally are female, and the majority of female crypto app users are under 35.
The above findings already provide lots of interesting insights. But this is where things get really interesting👇🏼