2025 won’t be kind to ID crypto

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In focus

For this edition, we cover:

• Indonesia’s crypto space hit a breakout in 2024, but faces tough road ahead
• AI could unlock US$82 billion potential for Indonesian factories
• BluSmart co-founder under probe for EV loan misuse in India

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Hello reader,

In 2017, my colleague used bitcoin as mahar – the traditional dowry in Indonesian weddings. Back then, bitcoin wasn’t very popular in the country. The wedding even made national headlines.

Seven years on, crypto has gone mainstream, with 22 million investors in Indonesia by 2024.

Last year was a breakout year for crypto globally, including Indonesia. The total value of crypto transactions in the country rose 335% year on year to US$38.6 billion.

Tokocrypto, owned by Binance, led with a 25% market share among crypto exchanges and US$9.5 billion in trading volume, followed by Indodax at 20.5%.

Bitcoin’s breakout was hard to miss. After Donald Trump’s return to the White House, the cryptocurrency rocketed past US$100,000, setting an all-time high and reigniting crypto fever in Indonesia.

But the hangover came fast. This year is looking rough: the bull run has stalled, prices have plunged, and the mood has cooled.

Add in higher taxes, shifting regulations, and rising geopolitical tension, and the country’s crypto scene is bracing for impact. More in my Big Story.

Shifting from crypto, AI now dominates most conversations. It’s also making its way onto factory floors in Indonesia, though adoption remains sluggish. Our Spotlight talks about why the country’s manufacturing sector is finding it difficult to ride the AI wave.

Jofie

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The Big Story

After riding the wave, Indonesia’s crypto space braces for impact

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Spotlight

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Learn, prepare, and thrive in a changing global landscape

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Quick Bytes