Cryptocurrencies
Thai Energy Billionaire Doubles Down on Crypto Despite Market Turmoil
- Gulf Energy CEO says digital-asset platforms are key to growth
- Firm also plans more power-generation plants using renewables
Sarath Ratanavadi
Source: Gulf Energy Development Pcl
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Thailand’s second-richest man -- who made most of his fortune in power generation -- is doubling down on his digital-asset plans despite increased scrutiny of the crypto industry and a decline in local trading accounts.
Sarath Ratanavadi, chief executive officer of Gulf Energy Development Pcl, said his company will boost investments in blockchain ecosystems to diversify earnings sources even as Thai regulators tighten supervision of fintech and related platforms amid a plunge in the value of many tokens.