Nischal Shetty, founder and CEO at WazirX; portrait by Sadhana Saxena
Synopsis
Cryptocurrency exchange WazirX, which is currently involved in a legal tussle with Binance over ownership, is building new features like staking. Meanwhile, Nischal Shetty, who co-founded blockchain project Shardeum in February 2022, is raising Series A funding. In an interaction with ET Prime, he talks about the cryptocurrency ecosystem, the funding environment, and the way forward. Edited excerpts.
The year 2023 hasn’t been the best year for cryptocurrency. Fall of FTX and its founder Sam Bankman-Fried triggered a wider crackdown by the US Securities and Exchange Commission (SEC) and tightening of the regulatory environment. The bear market did not help. India was no exception to this. ET Prime earlier reported that funding in the Web3 space declined 96% and there was close to 80% reduction in the number of startups being founded compared
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