Cryptocurrencies, “play to earn”, and why family offices are following a once bitten, twice shy approach

Emerging markets retain a touching faith in cryptocurrencies, according to newly-published data. But don’t be fooled. Speculators remain in the driving seat, and engagement via so-called “play to earn” games is fading, as prices fall. Family offices have been voting with their feet. Zero respondents to a Citi Private Bank survey hold crypto, against 3% in 2021. Crypto has ceased to be a priority for 68% of respondents, against 51% last time.