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Switzerland Less Affected by Crypto Industry Crisis, Study Finds – Economics Bitcoin News

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While the global industry built around digital assets is losing funds and jobs are dropping off, Switzerland seems to be weathering the storm relatively well, one piece of research claims. In fact, more crypto companies settled in the country during the past turbulent year than those that left it, or the business altogether.

Crypto Valley in Switzerland Maintains Number of Residents Despite Crypto Winter

The market downturn and the collapse of platforms like cryptocurrency exchange FTX and the Terra-luna ecosystem sent shockwaves through the industry. The negative events of 2022 led to losses for investors, customers, and companies while major players like Coinbase and Genesis announced layoffs.

However, data compiled by the venture capital firm CV VC shows that crypto-friendly Switzerland hasn’t witnessed anything too spectacular, Swissinfo reported. According to its ‘Top 50’ report, 183 Swiss blockchain businesses went bust last year, but 190 startups and foreign companies opened new offices.

The researchers also found that the Swiss Crypto Valley, centered in the…

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