Poor Rishi Sunak. The Chancellor was once the golden boy of British politics: the free-spending, Insta-loving, charm-oozing toast of the Wetherspoons’ bartenders. But now Sunak has lost his shine after a disastrous three week period in which his Spring Statement was lambasted, his ratings went into free fall and he ended up being fined by the Met police after his wife’s tax affairs came under scrutiny.
It was during this three-week period too that the Treasury revealed that Sunak wanted the Royal Mint to issue a ‘non-fungible token’ (NFT) by the summer in order to show ‘the forward-looking approach we are determined to take towards cryptoassets in the UK.’
Unfortunately, in the ten weeks since the announcement, Sunak’s reverse Midas touch appears to have extended to the crypto industry which is currently enduring a difficult bear market. Figures from the CryptoSlam NFT Global Sales Volume Index suggest that the volume of NFT sales around the world have now dropped from $3.7
Britain’s best politics newsletters
You get two free articles each week when you sign up to The Spectator’s emails.
Already a subscriber? Log in
Comments
Join the debate, free for a month
Be part of the conversation with other Spectator readers by getting your first month free.
UNLOCK ACCESS Try a month freeAlready a subscriber? Log in