Tuesday Jan 02, 2024

2023 Crypto Year in Review

2023 has been a bit chaotic in the crypto industry. There are more questions than anything else, but in this episode,  Ian Andrews (CMO, Chainalysis) speaks with Chainalysis’ very own Director of Research, Kim Grauer about the major events and trends in the cryptocurrency industry in 2023.

They cover topics such as the surge in asset prices, the increased focus on combating crypto crime by creative government agencies, the return of ransomware attack and the continued rise of pig butchering and investment/romance scams in the industry.

Kim updates us on sophisticated phishing schemes, the crackdown on the crypto related  fentanyl trade and the ongoing threat of North Korean hackers, and other important stats from both the crypto crime and crypto adoption index reports.

The pair highlight the growing usage of stablecoins in jurisdictions where local currency is unstable and provide statistics backing up the fact that NFTs are definitely not dead. 

Minute-by-minute episode breakdown

  • (2:10) - Introduction and discussion of the upcoming 2023 Chainalysis Crypto Crime Report
  • (3:58) - Analysis of the increase in asset prices and surge in the value of Solana (SOL)
  • (7:40) - Creative efforts by law enforcement in disrupting cybercrime and ransomware
  • (12:35) - Overview of the Global Adoption report and its importance
  • (15:27) - Middle-income countries saw a bounce back in adoption and India topped the index for the first time
  • (18:50) - Stablecoins are becoming a significant part of the crypto ecosystem
  • (20:45) - Ransomware and Pig Butchering activity is on the rise
  • (26:02) - Fentanyl production and distribution networks mapped using cryptocurrency
  • (28:15) - Concerns about North Korea's continued hacking and crypto thefts
  • (30:02) - Are NFTs Dead?

Related resources

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

Speakers on today’s episode

  • Ian Andrews * Host * (Chief Marketing Officer, Chainalysis) 
  • Kim Grauer (Director of Research, Chainalysis)

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