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This summer's crypto winter is too hot to handle

Chew Sutat
Chew Sutat6/16/2022 09:54 AM GMT+08  • 8 min read
This summer's crypto winter is too hot to handle
The crypto winter has turned frostier / Photo by Dominik Dombrowski via Unsplash
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In the American-British reality TV dating game show Too Hot To Handle, groups of determined singles were brought together on sunny paradise islands. For four weeks, they saunter their hot bods and go at one another, while trying not to give in to the temptation of the flesh. They stand a chance to win US$100,000 ($139,000) — only if they remain celibate.

Critics tripped over one another to pan the show, for good reasons. The show lasted three seasons before it eventually petered out. Nevertheless, the show managed to debut as the top programme on Netflix for the week of April 20.

This week, “the second crypto winter” described in this column (“Winter has come”, Feb 7) has taken a frostier turn. After the collapse of Do Kwan’s Terra Luna (described in “Dark side of the moon” in this column on May 18), crypto markets stabilised, albeit all too briefly. The next downdraft was unleashed when Celsius, a crypto lending platform in the US, paused withdrawals on June 12.

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