Altcoins News
By Jean-Luc Maracon
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Cryptocurrency is crashing hard in Vietnam.
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Local startups are bearing the brunt, with layoffs mounting and funding drying up. The country had 17 million digital asset holders at the beginning of 2025, ranking just behind…
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Nguyen Thanh runs a crypto startup in Hanoi. He doesn't mince words: "It's a nightmare for all of us.
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Regulators remain silent for now. They are watching, analyzing, but not announcing anything concrete. The sector is waiting for answers that aren't coming.
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Even international giants are feeling the impact. Binance and Coinbase are seeing their Vietnamese operations plunge, with trading volumes dropping week after week.
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On February 15, 2026, Le Minh Khai held a press conference in Hanoi. The Finance Minister expressed his concerns: "We must act cautiously to protect our citizens.
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BitHanoi suspended operations on February 14.
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The platform, one of the country's largest, chose to temporarily halt transactions rather than let panic set in.
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The Ho Chi Minh City Stock Exchange is not immune to the contagion. On February 17, shares of tech companies linked to crypto plunged by an average of 12%.
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Tran Quoc Vu was leading CryptoViet, a startup that was doing quite well before. He laid off 40% of his staff on February 18.
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A group of institutional investors requested a meeting with the Ministry of Justice on February 19.
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The numbers continue to plummet. A report from the State Bank on February 20 shows a 25% drop in crypto deposits since the start of the crisis.
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VNExchange has lost 30% of new registrations since the crisis began, according to a statement on February 22.
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Deputy Tran Duc Thao expressed concern for young entrepreneurs during a parliamentary session on February 23: "Many of them have staked their future on this industry.
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The Vietnam Association of Technology Enterprises has already recorded 23 permanent closures since early February, mainly affecting startups less than two years old.
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