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Cryptocurrencies versus a financial crisis
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The Crypto Market has not yet passed the most important test
Bitcoin, the most popular cryptocurrency, has existed for over 9 years, although the cryptocurrency market started to gain most popularity last year. However, this period of time is not that long enough to be able to assess how the cryptocurrency market will behave in the long term and if it will grow, as its supporters expect. All this is because the cryptocurrency owners did not come into contact with the key factor that allows to assess the durability of any given market – the financial crisis.
How will Bitcoin and other cryptocurrencies behave in the face of the financial crisis?
We can distinguish two extreme approaches to this issue. People counting on the fact that the cryptocurrencies will replace FIAT currencies in the future and completely change the financial system believe that the global financial crisis will be a period of bloom for the cryptocurrencies. On the other hand, sceptics believe that the crisis will be very acute for this market – there will be drastic falls and a large part of the projects may not survive. The latter group includes American investor James Chanos, known for catching assets that can be earned from short selling.
Chanos warns that people counting on the fact that the cryptocurrencies purchased by them will perform the function of a value storage like the real estate market during the crisis will be very disappointed. In his opinion, periods of turbulence on the markets are the worst time to keep the cryptocurrencies. He even said that it would be a much better idea to keep… food.
“The last thing I would like to have when everything falls asleep is Bitcoin,” said Chanos in an interview with the Institute for New Economic Thinking.
According to Chanos, cryptos are only a speculative game, hidden under the slogan of a revolution of the traditional financial system. He doesn’t openly call Bitcoin fraud, but points out that some projects may be so.
The bull market is the source of the success of the cryptocurrencies?
While the usability of cryptocurrencies is a subject of discussion, Chanos draws attention to an important factor that has made investing in cryptocurrencies so popular. This is a certain repeatability of behaviour, correlated with cycles on financial markets. It’s all, of course, about the rises and the downturns, and their impact on the financial decisions.
Bear markets have it to each other that they significantly increase the level of risk aversion. During the bull market, this level of risk aversion decreases. The problem, however, is that this decline does not stop at reasonable levels. Long-lasting rallies make investors willing to take more and more risks and even make investments that they would normally consider inappropriate. As a result, a prolonged bull market is an ideal environment for the development of speculative bubbles or dishonest investment patterns (e.g. financial pyramids or ponzi schemes). This is also facilitated by low interest rate levels, which discourage people from holding savings on secure deposits. Investors in such conditions are more likely to choose riskier investments in order to achieve a satisfactory return. The gambling and sports betting industry is thriving in these conditions with sites like the Sportsbet offering traditional betting but with Bitcoins. This increases the risks associated with gambling tremendously – when we gamble using FIAT currencies we know that when we win 400$ at blackjack, we will come home with 400$ (minus possible casino fees). But when we gamble with cryptos? We can come home with our 400$ in BTC and wake up next morning to 800$ or 200$. This is indeed a silent revolution, and not only the gambling and betting sites know that.
A repetition of the Internet boom?
Chanos reminds us that the bull market ended at the beginning of the 21st century with a dotcom bubble. Just as the dotcom boom contributed to the proliferation of companies connecting to the Internet industry, so now, like mushrooms after the rain, new cryptocurrencies are emerging, and companies are appearing on the stock exchanges trying to gain publicity thanks to the link with blockchain technology. The bear market of the beginning of the last decade ended with strong discounts of the leading entities from the dotcom sector and cleared the market of smaller players and entities impersonating Internet business.
Will the same fate await the cryptocurrencies and the ICOs? Such a scenario seems plausible. As in the case of grants, the largest projects such as Bitcoin or Ethereum may remain on the market, which on the one hand will lose out on a general sale, but some of these losses will be compensated for by the capital fleeing from smaller projects.
Why should the crypto owners lose money during the financial crisis at all?
If we treat the cryptocurrency market as other investment markets, the risk parameter should be a key one. During financial crises, the highest outflow of capital is recorded in high-risk markets. This is transferred either to cash or to low-risk markets (so-called safe harbours).
The cryptocurrency cannot currently be considered to be either a cash equivalent or a safe haven. Globally, traditional currencies are preferable to cryptocurrencies and this should not be expected to change until the next financial crisis. It should be remembered that the capital circulating on the financial markets is mainly institutional capital, i.e. still sceptical about cryptos.
To put it very simply, all of this is primarily about the already mentioned risk parameter – cryptocurrencies are characterised by a much higher investment risk than financial instruments that do not use leverage. On the one hand, it gives a chance to achieve high rates of return (as in the previous year), and on the other hand, it poses a threat of significant slips, as in this year. The financial crisis and the accompanying economic collapse are making risk aversion drastically increasing. The uncertain high profit in the future is no longer so attractive, especially when the spectre of redundancies in companies and difficulties in finding new jobs arise.
Source: Latest News on European Gaming Media Network

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Million Games and YUGO Workshop Unveil Vault Rush – A Sleek Take on Classic Slots
Million Games is thrilled to announce the launch of Vault Rush, the latest high-volatility online slot developed in collaboration with YUGO Workshop under the Million Stars partner program.
Following the success of Thorfinn’s Journey, Vault Rush delivers a fresh yet nostalgic experience, combining the charm of traditional slot machines with modern, high-energy gameplay mechanics.
This 5×3 reel slot pays homage to the golden era of classic slots, featuring familiar symbols like 7s, Bars, bells, and fruits. At its core, the game introduces the Power Vault feature, where Vault Symbols transform into random paying symbols, adding an extra layer of excitement to every spin. Meanwhile, the Power Bet option allows players to increase their bet for even more Vault Symbols, enhancing winning potential. With a 95.9% RTP, high volatility, and a maximum payout of 4000x the bet, Vault Rush is designed to deliver electrifying gameplay with big-win potential.
“YUGO Workshop has once again showcased its ability to craft a game that captures both the nostalgic essence of classic slots and the thrill of modern online gaming,” said Thomas Nimstad, CEO of Million Games.
“This is exactly the kind of innovation we envisioned with the Million Stars program – giving talented studios the opportunity to create engaging, high-quality casino experiences. Following the positive reception of Thorfinn’s Journey, we’re confident that Vault Rush will be another big success.”
As the second title from YUGO Workshop under the Million Stars program, Vault Rush further cements the partnership’s commitment to delivering standout gaming experiences. The game is now available across Million Games’ network, ready to immerse players in an exhilarating vault-cracking adventure.
The post Million Games and YUGO Workshop Unveil Vault Rush – A Sleek Take on Classic Slots appeared first on European Gaming Industry News.
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Navigating New Frontiers: Relax Gaming’s Approach to Growth & Market Expansion
HIPTHER, organiser of the Prague Gaming & TECH Summit 2025, is proud to present Relax Gaming, the Summit’s Delegates Bag Sponsor and a key player in the iGaming industry. In this exclusive interview, we speak with Cliona Griffin, Business Development Manager, Casino at Relax Gaming, to explore their approach to market expansion, transparent competitive strategies, and what to expect from their presence at the Summit.
Relax Gaming has built a strong reputation as a premium aggregator and supplier in the iGaming space. How does your approach to business development ensure that Relax Gaming stays ahead in an increasingly competitive market?
We’re always focused on being one of the industry’s most innovative providers, both in terms of the content we produce and the platform we offer. By constantly evolving our products and maintaining a strong commercial framework, we ensure that Relax Gaming remains a key player in the market.
Our competitive and fair commercial approach has been instrumental in strengthening our presence in existing markets while also enabling smooth entry into new ones. It’s all about staying agile and forward-thinking to ensure our partners get the best possible experience when working with us.
A competitive yet transparent commercial structure is a core focus for Relax Gaming. How do you strike the right balance between offering competitive deals while maintaining transparency with partners and operators?
I think both fairness and transparency are key to building long-term relationships with our partners. That’s why we apply the same commercial structure across the board in each market, ensuring that every partner has a clear and equal opportunity to succeed.
This approach not only makes our offering competitive, but it also gives our partners confidence in knowing they’re working with a provider that values consistency and openness. By keeping things straightforward and fair, we create a commercial environment that benefits operators.
With new markets constantly evolving, what key factors influence Relax Gaming’s decision-making when entering and expanding into emerging markets? Are there any specific regions that are currently on your radar?
When looking at new markets, we take a strategic and measured approach to ensure that any expansion aligns with our business objectives asl well as the needs of our partners.
One of the biggest factors we consider is regulatory complexity. Each market comes with its own set of rules, and we need to ensure that we can operate efficiently while fully complying with local requirements. Beyond compliance, we assess the potential return on investment, evaluating market size, player demand, and long-term sustainability to determine whether it’s the right fit for Relax Gaming and our network of operators.
Right now, we’re actively monitoring several European markets that show strong growth potential. However, our primary focus for H1 this year is expanding our presence in the US. The region presents exciting opportunities, and we’re working to establish a solid foothold by leveraging our expertise and proven content portfolio to meet the needs of operators and players in this market.
Given the dynamic nature of the industry, how does Relax Gaming adapt its offerings to support both new and existing operators in maximising their revenues?
We take a very hands-on approach when it comes to supporting our partners. Our Account Management team works closely with operators to help them maximise revenue by tailoring strategies to suit their needs. Whether it’s optimising game performance or identifying new opportunities, we’re always looking for ways to add value.
On the content side, we’re also moving towards a more bespoke approach, adapting our offering to fit the demands of different markets and player preferences. This flexibility allows us to continue delivering high-quality, relevant content that keeps engagement levels high.
As a speaker at the Prague Gaming & TECH Summit, what key insights will you be sharing with the audience? And what makes this event an essential platform for discussing the future of iGaming?
I’m looking forward to sharing how Relax Gaming approaches market expansion, focusing on how we assess new opportunities, navigate regulatory challenges, and use our aggregation model to drive growth.
I’ll also highlight the importance of localisation and how we tailor our content to different markets while supporting operators with the tools they need to maximise engagement. With the industry evolving rapidly, staying ahead of trends is key, and I’ll touch on the innovations shaping the future of iGaming.
Events like this are a great chance to connect, exchange ideas, and gain insights into what’s next for the industry, making it an essential platform for discussion and collaboration.
With Relax Gaming bringing its expertise to the Prague Gaming & TECH Summit 2025, this year’s event promises invaluable insights into the future of iGaming and technology. Don’t miss the opportunity to connect with industry leaders, gain exclusive market perspectives, and be part of the most dynamic gathering in the CEE region!
Join us on 25-26 March 2025 in Prague – Register now and explore the full agenda!
The post Navigating New Frontiers: Relax Gaming’s Approach to Growth & Market Expansion appeared first on European Gaming Industry News.
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The post Champions League Drama & EPL Showdown — WinSpirit Launches Betting Series with 2,500 USD in Freebets appeared first on European Gaming Industry News.
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