Cryptocurrency 27 minutes ago (Dec 24, 2022 10:40AM ET)

Xmas dinner table: What to tell your family about what happened in crypto this year

After a lackluster rise of crypto in 2021, which saw many new crypto millionaires and several crypto startups attain unicorn status, came the dramatic fall in 2022. The industry was plagued by macroeconomic pressures, scandals and meltdowns that wiped out fortunes virtually overnight.

As 2022 comes to a close, many crypto proponents are perplexed about the state of the industry, especially in light of the recent FTX collapse and the contagion it has caused, taking down several firms associated with it.

The downfall was universal, but crypto turned it into a contagion

SBF in handcuffs during his extradition to the U.S. Photo: Royal Bahamas Police

Centralized exchanges and coins may come and go, but will stay

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The bottom line

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