The roundup: 2022 saw a reckoning in the crypto markets. The year revealed that crypto investors were easily spooked by negative news, kicking off panic similar to a bank run. But as consumers rushed to withdraw their funds, bigger issues began to emerge, like lack of liquidity and the absence of tangible collateral altogether. The crypto markets now have a long and potentially insurmountable journey to rebuild investor trust.
Here we highlight the top five crypto collapses from the year.
5. Voyager Digital gets knocked for deposit insurance claims.
4. Celsius misleads its customers.
3. BlockFi fell from grace.
2. Tether untethered from the US dollar.
1. FTX went from being a savior to needing saving from itself.
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