South Korea’s Crypto Ecosystem Shakes Off Terra Debacle, With Gaming Dominating Web3 Activity

“From the discussions I had with the major ecosystem players, it did have a huge impact that forever changed the Korean [decentralized finance, or DeFi] ecosystem for institutions,” Hoon Kim, the chief technology officer at blockchain project Astar, told CoinDesk. “It made it harder for the retail investors to look at domestic projects, and companies started to look at all of their options with a critical lens.”