SBS reported on Tuesday (June 14) that Australia's ASX 200 index opened the week down over 5%, wiping out A$115 billion. This marked the worst decline since March 2020. The US stock market had plunged into a bear market the previous night, and national bonds also plummeted on Monday. SBS interviewed Gavin Xu, a senior researcher in applied economics at the University of Sydney.

Gavin Xu is Chairman of DCG Digital Capital Group and a veteran blockchain expert. A former visiting scholar at Harvard University and author of the best-selling book "Token Economics," he has served as a digital advisor to several countries in the Asia-Pacific region and co-founded several international non-profit digital economy organizations. He is currently Deputy Director of the Information Engineering Joint Laboratory at the University of Sydney and a postdoctoral fellow in blockchain technology and applications at the University of Cambridge. Over the past five years, he has managed over US$10 billion in assets.

Digital Capital Group (DCG), established in Sydney, the financial capital of the Southern Hemisphere, in August 2016, is a rapidly growing global innovative financial management group operating four main business segments: banking, digital currency funds, venture capital funds, and a crypto-to-digital asset trading platform. DCG Group is committed to becoming an innovator and leader in the global wealth management and digital finance industries.

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