2022 was the toughest year for cryptocurrencies. Both monetary tightening and crypto money companies that went bankrupt one after the other Bitcoin (BTC) This has caused the entire crypto market, especially the crypto market, to experience sharp declines.
Finally, although FTX went bankrupt, FTX’s bankruptcy was not the only event that hurt investors.
In this context cryptocurrency researching the impact of the bankruptcy of companies on the market and investors, blockchain analytics firm chainalysis He listed the events that caused the biggest losses for crypto investors in 2022.
In the Chainalysis report, the worst event for both the market and investors in 2022 Terra (Luna) and algorithmic stablecoin He stated that it was the downfall of the UST.
“Just weeks after the Terra crash, the bankruptcy of crypto lending platform Celsius and hedge fund Three Arrows Capital (3AC) also triggered increased losses for investors affected by the Terra collapse.
Terra and UST collapsed in May. Contagion from the crash later contributed to the bankruptcy of Celsius in June and Three Arrows Capital in July.”
Terra and TOP Expressing that its collapse caused investors $20.5 billion in realized losses, Chainalysis said, Celsius and 3AC33 billion dollars of bankruptcy, FTXHe said that the bankruptcy of ‘s caused a loss of $ 9 billion.
Stating that the loss data in question do not completely reflect the truth, Chainalysis said, “These charts don’t take everything into account, for example, people using FTX have lost all the funds they held on the exchange and it is unknown what percentage chance they have of getting it back.” said.
Finally, Chainalysis said that according to the data it shared, the damaging effect of the collapse of other companies on cryptocurrencies surpassed the bankruptcy of FTX.
1/ Our data suggests that FTX’s demise hasn’t been crypto investors’ biggest issue this year. Both the depegging of Terra’s UST token & the collapse weeks later of Celsius & Three Arrows Capital (3AC) drove much bigger realized losses. 👉 https://t.co/tWpX9qjY6o pic.twitter.com/TI2eJSVXaW
— Chainalysis (@chainalysis) December 14, 2022
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