WazirX and CoinDCX
Crypto’s sudden, severe downturn defied geographical borders. Several India-based cryptocurrency exchanges, including WazirX and CoinDCX, reportedly found themselves pausing withdrawals in recent weeks.
“Crypto markets have seen a correction due to multiple macro factors,” WazirX CEO Nischal Shetty, said in an interview with CNBCTV18 in late June. “The inflation rate globally has also been a significant concern as the US is at a 40-year high at 8.6% and in the UK at 9%. In addition, interest rate hikes across major crypto nations are also a growing concern, as they lessen liquidity. Both the indicators have led to a massive sell-off.”
