Crypto's Very Bad, No Good Year
Bloomberg Crypto14 Des 2022

Crypto's Very Bad, No Good Year

It’s safe to say that 2022 wasn’t the best year for crypto. By late January, Bitcoin had already shed half its value from its all-time high set the previously November - nearly $69,000. And Bitcoin prices stayed on a downward trend that only accelerated after the first major crisis of 2022, the collapse of an algorithmic stablecoin called TerraUSD. The implosion of what was once considered an ambitious experiment for DeFi sent shockwaves through the industry, ultimately triggering the collapse of crypto hedge fund Three Arrows Capital and bankruptcies at crypto lenders Voyager Digital and Celsius.

It started to feel a bit like the Hunger Games - crypto CEOs and other senior executives racing for the exit, true believers getting into Twitter fights about whether centralisation was the real enemy, all against a backdrop of conferences and parties where people tried to rekindle enthusiasm for their Bored Ape collections. Then - most recently of course - the stunning collapse of one of the most significant crypto exchanges in the sector, FTX and the resignation of its 30-year-old CEO Sam Bankman-Fried. Quite the year. And it isn’t over yet.

In this episode - a breakdown of the year’s biggest stories with Bloomberg reporters Vildana Hajric and Emily Nicolle, with key takeaways and a look ahead to next year.

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Episoder(224)

What's The Deal With Bitcoin Going Up?

What's The Deal With Bitcoin Going Up?

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What’s Next For Galaxy Digital CEO Mike Novogratz?

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Is China Poised to Relax Its Crypto Ban?

One of the biggest shocks to the crypto market in the past couple of years came in 2021 - when China issued its most significant crackdown yet on all things digital assets.  Fast forward to 2023, and ...

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The US Has a Renewed Urgency to Regulate Crypto Post-FTX

The bankruptcy of crypto exchange FTX and the arrest of its former CEO San Bankman-Fried has had a lasting effect on the digital asset sector, for sure. But it’s also made an indelible impact on the p...

31 Jan 202319min

Should You Try Fidelity's New Crypto Platform?

Should You Try Fidelity's New Crypto Platform?

Long time Fidelity customers have been getting some interesting offers in their inbox from the financial services company over the past several months: a new crypto trading platform for retail investo...

30 Jan 202318min

This Week in Crypto: Binance Mishandles Collateral, More Crypto Layoffs

This Week in Crypto: Binance Mishandles Collateral, More Crypto Layoffs

As we reported this week, Binance acknowledged that it had been mistakenly mixing the collateral it holds for some of its tokens…. in the same digital wallet as other types of funds.  This kind of ope...

27 Jan 202317min

What Genesis's Bankruptcy Means for the Industry

What Genesis's Bankruptcy Means for the Industry

Crypto lender Genesis has filed for bankruptcy. For many observers in crypto, this wasn't entirely unexpected, not least because the company itself had been warning that it was staring down a liquidit...

26 Jan 202319min

What Will Coinbase’s Earnings Call Reveal?

What Will Coinbase’s Earnings Call Reveal?

The end of Sam Bankman-Fried’s empire created a contagion effect especially felt by crypto exchanges, like publicly-traded Coinbase. In early January, the exchange settled with New York regulators who...

25 Jan 202316min

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