FX Trading Insights: Performance Strategies to Optimize & Thrive
In a market that is seeing increased volatility, competition and unprecedented impact, we will hear from Bloomberg Intelligence on the new normal in the FX market. In the context of a market increasingly driven by technology, where execution tools like algos and automation are rapidly evolving, our specialist will share perspectives on FX and how traders and investors can enhance performance through effective TCA.
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Speakers
Stephen Chiu, CFA
Chief Asia FX and Rates Strategist
Bloomberg Intelligence
Stephen Chiu has over 15 years of experience in research and trading in FX and Rates. Stephen joined Bloomberg Intelligence's FICC team in 2019 and built out the Asia FX and rates coverage. He involves in expanding the company's global franchise heavily and he was promoted to Chief Asia FX and Rates Strategist in 2021. Prior joining Bloomberg, Stephen demonstrated his FX/rates trading and research expertise at Bank of Tokyo-Mitsubishi UFJ. (2010-2016) and advanced his FX research career at China Construction Bank (Asia) (2016-2019). Stephen holds a Bachelor's degree in Physics (First Class Honours) from the University of Oxford, a Master's degree in Finance (Distinction) from Imperial College London and a Chartered Financial Analyst (CFA) membership.
Yerson Arvelo
BTCA Product Manager
Bloomberg
Yerson is a Product Manager for the BTCA product. He has over 10 years of experience spanning a variety of roles within Bloomberg's electronic trading business, specializing primarily on Transaction Cost Analysis and Trade Surveillance. Yerson is currently focused on improving BTCA's FX product offering and enhancing the overall user experience.
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The result is a curious paradox: millions of Indians hold crypto, but much of the real trading action has gone offshore. Those who remain in the domestic market often find themselves trapped between enthusiasm and exhaustion. And if there was ever a project to bridge India's pop culture dominance with its crypto curiosity, it was BollyCoin. Bollywood meets the blockchain In 2021, filmmaker Atul Agnihotri — with none other than Salman Khan as the face of the brand — launched BollyCoin with the promise to 'bring Bollywood to the blockchain.' The concept was irresistible: digital collectibles from classic Hindi films, official partnerships with production houses like Salman Khan Films and Arbaaz Khan Productions, and the megastar himself posting, 'Kya aap excited ho? [Are you excited] Salman Khan Static NFTs coming on @bollycoin'. Fans were. Reports show BollyCoin sold its entire pre-sale of 20 million tokens in just 30 days, raising about $2 million. Its first NFT drop featured scenes and assets from the Dabangg franchise, one of Salman's biggest hits. The token (BOLLY) ran on Ethereum's ERC-20 standard and later bridged to Polygon for lower transaction fees. The total supply was set at 100 million, and holders could use BOLLY tokens to buy NFTs on the platform. In 2022, the team introduced a 'lock-in' staking scheme where holders could lock tokens for up to 24 months in exchange for monthly USDT payouts. They even launched a 'Bolly Council' governance system, allowing the community to vote on project direction. For a while, it worked. BollyCoin was the perfect storm of Bollywood glamor and blockchain hype. Until it wasn't. At press time, BollyCoin's official website was defunct. The last post made by the project on their Instagram account dates back to July 2024. Fade to black Within a year, marketplace trading volumes collapsed, and the BOLLY token lost more than 90% of its value. By late 2022, the dream of Bollywood's NFT empire had evaporated. It wasn't alone. In the same year, the cricket-themed NFT platform Rario, backed by cricket legend Sachin Tendulkar, was riding high on fan engagement. Players like Arshdeep Singh even launched their own digital collectibles on Rario. But with the NFT market's global cooldown and India's domestic tax squeeze, momentum faded fast. Other Indian crypto ventures met a similar fate. NanoHealthCare Token (NHCT), launched in 2018 to revolutionize healthcare with blockchain, was abandoned by April 2020. By 2023, dozens of play-to-earn gaming projects had shuttered after failing to sustain token economies. TheStreet Roundtable reached out to both Rario and BollyCoin for comment but had not received a response by the time of publication. The failures aren't just about bad business models — they're about operating in an environment designed to discourage crypto innovation. 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India's 30% tax on crypto gains pulled in about $32.4 million in financial year 2022 to 2023 and $52.7 million in financial year 2023 to 2024, despite no clear regulations for the sector. Data for 2024 to 2025 isn't available yet, as filings are still underway. Bollywood couldn't beat the blockade BollyCoin's collapse says as much about India's crypto climate as it does about the fickle nature of NFT hype cycles. From 2021 to 2025, the trading volume of the NFT market decreased by 93%. Even with Salman Khan's star power and a built-in Bollywood fanbase, the project couldn't escape the gravity of declining NFT interest, low domestic liquidity, and high barriers to participation. When India's grassroots adoption numbers are so high, you'd expect more homegrown crypto success stories. But the few that have tried — from Bollywood NFTs to cricket collectibles — have mostly fizzled. Not because Indians aren't interested, but because the environment doesn't reward sticking around. The irony is sharp: India is a global leader in Web3 talent, with its developers powering major projects abroad, yet its domestic crypto economy is locked in survival mode. And it's also a reminder: mass adoption doesn't always mean mass participation. Tens of millions of Indians may own crypto, but until the rules change, the country's biggest crypto plays will keep premiering somewhere else. After all, if even Salman Khan couldn't keep the cameras rolling, what chance does anyone else have? Even Salman Khan couldn't save India's crypto scene first appeared on TheStreet on Aug 13, 2025 This story was originally reported by TheStreet on Aug 13, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
