The lockdown fatigue we’ve all been suffering from has finally reached the consciousness of the corporate world. In its annual report to the US Securities and Exchange Commission, Google has warned that the pandemic “continues to create inherent productivity, connectivity, and oversight challenges.” At the virtual World Economic Forum in January, Barclays chief executive Jes Staley said that while productivity in lockdown has been “remarkable, I don’t think it is sustainable”. His colleague at JP Morgan, Mary Erdoes, agreed: “It will increasingly be a challenge to maintain the culture and collaboration that these large financial institutions seek to have and should have”, she said.
The FTX catastrophe couldn’t have come at a worse time for the industry. But crypto’s innovative potential is undiminished.