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Crypto exchanges hunker down as everything goes wrong in India

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economictimes.indiatimes.com

crypto winter — one with some unwelcome local twists. With token prices plummeting, customers unable to transfer money to their accounts and a dreaded transaction tax on cryptocurrencies just around the corner, exchanges like Binance-backed WazirX have put expansion plans on the back burner. “We have cut down all our non-critical costs,” said Rajagopalan Menon, WazirX’s vice president. “We are hiring only critical hires, we aren’t spending money at all.

It’s literally crypto winter here,” he said, using industry jargon for an extended bear market. Presented ByDid you Know?Premium tea company Vahdam India has gifted a personalised NFT to Parag Agarwal the newly-appointed Indian-origin CEO of TwitterView Details » WazirX isn’t alone.

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